AP is moving forward with its business plan to capitalize on the booming real estate market throughout 2018, launching as many as 43 new projects valued at 64.75 billion baht. This is the highest value since the company's inception. In the second half of the year, the company is ready to penetrate the horizontal market with over 30 new locations and three prime condominium sites. Additionally, the results from the first quarter of 2018 show steady growth, with successful outcomes from both horizontal products and joint venture condominiums, resulting in total revenue exceeding 6.5 billion baht. Net profit increased by 47% or over 800 million baht. The company believes that with strong performance and an enhanced business plan focusing more on the horizontal market, it will definitely exceed its sales and revenue recognition targets.

          Mr. Anupong Asavaphokin CEO of AP (Thailand) Public Company Limited, shared his outlook on the real estate market for the second quarter, stating, "The market shows signs of improved growth due to several positive factors. The purchasing power in the real estate sector remains strong, and the overall market situation, especially for horizontal products, has received very positive feedback. Sales and revenue recognition for AP's horizontal products have been steadily improving. Therefore, AP is moving forward with its business plan by launching new projects beyond the original plan, making 2018 the year with the highest number of new project launches since the company's establishment, totaling 43 projects valued at 64.75 billion baht, including 21 townhome projects worth 18.55 billion baht, 17 single-detached house projects worth 20.8 billion baht, and5 condominium projects valued at 25.4 billion baht.

          For the first quarter results, the growth rate was exceptionally high, setting a record. The company achieved total revenue from horizontal products and joint venture condominiums (including 51% joint venture projects) of 6.533 billion baht, an increase of 27% compared to the same period last year, which had total revenue of 5.127 billion baht. Net profit (Net Profit) exceeded 800 million baht, an increase of 47% compared to the same period last year, which had a profit of 549 million baht.

          In the first quarter, sales reached 10 billion baht, growing approximately 170% from the same period last year. Horizontal products grew by 64%, amounting to 5.2 billion baht, while condominiums increased more than sevenfold, totaling 4.8 billion baht. As of April 30, 2018, AP has achieved sales of 12.29 billion baht, representing 37% of the sales target for 2018, which is set at 33.5 billion baht.

          In summary, the adjustment to the project launch plan in 2018 will make it the year with the highest number of project launches since the company's establishment, with a total of 43 new projects valued at 64.75 billion baht. Seven projects have already been launched, with one more project, namely, the "Baan Klang Muang" in Watcharaphon, set to launch in June. Additionally, 16 projects valued at 29 billion baht are planned for the third quarter, and 19 projects valued at 25.38 billion baht for the fourth quarter. The company is confident that based on the first quarter's performance and the enhanced business plan focusing more on horizontal markets and highlight condominiums, it will be able to exceed its sales and revenue recognition targets.

          As of April 30, 2018, the company has a backlog valued at 47.1 billion baht, including approximately 6 billion baht from horizontal projects expected to be recognized within this year, and 41.1 billion baht from condominiums, which will be gradually recognized until 2025.

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