FPT’s 3Q Profit Increases 332% to ฿274m after Booking ฿948m from Disposition of Assets

Frasers Property (Thailand) Public Company Limited (FPT) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

In 3Q19 (April 1 – June 30, 2019), FPT had a net profit of THB 274.26 million, increased by THB 210.84 million or 332.45% from the same period last year. The increase of net profit was mainly resulted from THB 948 million disposition of assets. In addition, revenue from rental and related services increased by THB 35 million, or 9%, due to higher occupancy rate of factories and warehouses.

Sales and administrative expenses increased by THB 76 million, or 39%. The increase was mainly from professional fee in relation to the conditional voluntary Tender Offer for all ordinary shares of Golden Land Property Development Public Company Limited (GOLD). Moreover, the issuance of debentures amounting to THB 10,000 million in May 2019 resulted in the increase of financial cost.