AP Revealed Sky-High 93% 2Q18 Growth in Profit from Low Rise Projects
An outstanding year for AP after their 2Q18 consolidated financial statements has been announced to show a 93% increase in the quarter and 71% increase in the first half of 2018.
AP earned 6.5 billion baht in revenue and 1.1 billion baht of net profit in the second quarter of 2018. The revenue was +36.7% increase from 4.8 billion baht and net
profit was +94.2% increase from 600 million baht from the same period last year. Moreover, in the big picture of first half of 2018, AP also gained 71% in profit as well.
The increase was mainly due to AP’s low rise maintained strong transfer pace and continued to drive revenue growth in Q2. Total property revenue hit 6.3 billion baht (+36.5% YoY).
This was contributed by both existing projects which could maintain the sales momentum and 5 new projects transferred this quarter (4 of which are 2018 new launches) including “The City Sathon – Suksawat”, “Centro Rangsit Klong 4 – Wongwaen”, “Centro Ratchapruek – Suanpak”, “Baan Klang Muang Ratchaphruek – Rattanathibet”, and “Pleno Pinklao – Charan”.
