ORI’s Profit raises 47% to ฿720M from Business Growth Due to Higher Revenue Recognition

Origin Property Public Company Limited (ORI) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

 

ORI recorded a net profit in the first quarter of 2019 at THB 720.60 million, compared with the same period of last year showing a revenue at THB 488.85 million, increasing by 47.41%.

Revenues from sales of real estate, in the period of the first quarter of 2019, accumulated amount of 3,000.4 million baht, or 86.9% from the total revenues, an increase of 1,013.7 million baht, or 51.0% compared on the same period from last year.
As a result of that ORI were able to recognize revenue consistently, due to the completion of 20 projects in the year 2018, and another 3 newly completed project transferred on March 2019 (B-Loft Lite Sukhumvit 115 B, Britania Mega Town-Bangna, and Britania Bangna-KM.12) thus increasing ORI revenue recognitions even more.