ANAN Shows 2Q Profit at ฿120m, Paying a Dividend of ฿0.091, XD August 23

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

ANAN reported Q2/2019 net profit of THB 119.8 million, decreasing THB 464.2 million or 79.5% compared to the same period last year, mainly due to a decrease in share of profit from investment in joint ventures which in line with ANAN’s construction schedules.The proportion of joint venture projects which were finished and started to transfer in 2Q19 was less than the joint venture projects that were finished and started to transfer in 2Q18, such as, Ashton Asoke and Ashton Chula-Silom which were sizable projects.

Share of Profit (Loss) from Investments in Joint Ventures 2Q19 share of profit from investment in joint ventures was THB 252.9 million, a decrease of THB 285.8 million from the same period last year or 53.1%, due mainly to proportion of joint venture projects which were finished and ready to transfer in 2Q19 was less than joint venture projects in the same period last year.

The total revenue in the second quarter of 2019 accounted for THB 2,036.9 million, decreasing THB 388.7 million or 16.0% year on year, mainly due to a decline in sales of real estate revenue came from ANAN owned.

Selling expenses in 2Q19 decreased THB 64.4 million or 30.0% year on year to THB 150.3 million. Administrative expenses also dropped THB 15.3 million or 3.7% year on year to THB 397.2 million