NOBLE Records Higher Earnings in 1Q21 by 17% to Book ฿484Mn for the Period
The recognition from higher ownership transfer from completed condominium and horizontal projects in 1Q21 resulted in a higher earnings for NOBLE by 17.80%.
Noble Development Public Company Limited (NOBLE) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
NOBLE reported a net profit of 484 million baht in 1Q21, increased 17.79% from a net profit of 410 million baht in 1Q20. The increase was mainly due to higher ownership transfer from completed condominium and horizontal projects.
Total revenue for 1Q21 was 2,682.1 million baht, a 23.7% increase from the same period of last year. The increase was mainly from higher ownership transfer from completed condominium and horizontal projects, and higher other income from contract forfeiture.
In 1Q21, total gross profit was 954.7 million baht, a 11.2% increase from the same period of last year. However, the total gross profit margin in 1Q21 was 39.2% which was lower than the rate of 40.5% in 1Q20. The decrease was mainly from the higher gross profit margin from Noble Revolve Ratchada and Noble BE33 Sukhumvit in 1Q20.