NOBLE 2Q Profit Soars 164% from Higher Sales, Moving Forward to Invest in SERVE!

Noble Development Public Company Limited (NOBLE) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The net profit of NOBLE in 2Q19 was THB 164.47 million, increased 138% when compared to the net profit of THB 69.14 million in the same period of the previous year. NOBLE’s revenue from sales-real estate development business was THB 801.19 million, increased from THB 655.07 million of the previous year. This was due to that in the last year, the company significantly recognized the revenue from sales-real estate development business from Noble Revolve Ratchada, Noble Revolve Ratchada 2 and Noble Ploenchit.

Moreover, the Board of Directors’ Meeting has a resolution to dissolution N.K. Energy Conservation Company Limited (the Subsidiary), a subsidiary which NOBLE holds 49.96% stake, with the registered capital of THB 10,000,000, consisting of 10,000 common shares at a par value of THB 1,000 per share.

The Subsidiary does not have any business activities and the dissolution will enhance NOBLE’s business agility. However, the closing and liquidation of the Subsidiary has no effect on NOBLE’s business operation.

On the other hand, the Board of Directors’ Meeting has a resolution to have the Company invests in Serve Property Management Co., Ltd, (SERVE) to hold 15% of the business with an investment value of THB 1.5 million. SERVE performs sourcing, sales and installation of furniture package.