KUN Makes a Comeback in 3Q to Book ฿15m of Profit from Transferring Big Projects!

Villa Kunalai Public Company Limited (KUN) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

 

The net profit of KUN for the 3rd quarter of 2019 was 15.19 million baht with a net profit margin of 9.66, increased from a loss of 5.71 million baht. Such an increase was resulted by the transfer of house ownership which had a lower cost of development compared to the same period of the previous year and the selling and administrative expenses which increased at the lower rate than the growth rate of revenue from the sale of real estate. With those factors, KUN’s net profit and net profit margin for the 3rd quarter of 2019 increased.

KUN generated revenue from sales of real estate for the 3rd quarter ended 30 September 2019 in a total of 155.90 million baht, increased in a total of 85.88 million baht or a 122.65% increase from the same period of the previous year.

The increase was mainly due to the recognition of revenue from the transfer of ownership of new project – “Kunalai Joy”, which was opened in the beginning of the year 2019 with the project’s products being single and twin houses having been designed based on one of the best-selling products of KUN, and the recognition of revenue from transfer of ownership of “Kunalai Symphony” project which has re-designed the products causing lower construction cost and lower price per unit than the previous designs.