Mankong Kheha Kan Reports Strong First Half of 2018 with Over 2.6 Billion Baht in Revenue.

Confident in Continued Growth from New Project Launches Throughout the Second Half of the Year

And Strength in the Rental and Service Business

Mr. Warasith Phokachai Phat, CEO of Mankong Kheha Kan Public Company Limited (MK), revealed the company's performance for the first half of 2018, stating that over the first six months of this year, the company has achieved significant business success, generating total revenue of 2,646.86 million baht, which is an increase of over 90% compared to the same period last year. This growth is attributed to revenue from the real estate sales business, which is the company's core business, with an increase of over 1,221.42 million baht. Additionally, the company has adjusted its revenue structure over the past 2-3 years by increasing investments in the rental and service business, gradually recognizing revenue from these areas, which reached 119.88 million baht in the first half of this year, an increase of 30.18%. The net profit for all subsidiaries was over 170.92 million baht, representing a remarkable increase of 237.54%. This reflects the success of the business operations according to the established strategy and indicates a positive growth trend for the future.

In the second quarter of 2018, the company reported total revenue from sales and services of 1,331.64 million baht, an increase of 656.88 million baht or 97.35% compared to the previous year. This includes revenue from real estate sales of 1,235.8 million baht, which is a 105.28% increase compared to the same period last year, with revenue from horizontal projects amounting to 673.29 million baht, growing over 33.2% due to an improving real estate market and the launch of new projects with strong potential locations and enhanced design features, while maintaining price levels suitable for consumer purchasing power.

Regarding revenue from the rental and service business in the second quarter, Mr. Warasith Phokachai Phat added, "The company generated revenue from this sector of 62.12 million baht, an increase of 12.95 million baht or 26.34%. Most of this revenue comes from leasing and services in the warehouse and factory space at the Bangkok Free Trade Zone, developed by Prospek Development Co., Ltd., a subsidiary of the group, which has been continuously expanding its rental space. Currently, there are 115,000 square meters of rental space developed, with an additional 39,000 square meters under development this year. Furthermore, revenue from rental and services at the Park Court Apartments and condominiums in the Sukhumvit area has also increased, contributing to the growth of the company's recurring income."

In the golf course service business, Flora Ville Golf and Country Club has undergone a rebranding and image overhaul earlier this year to elevate service standards, which has been well received, resulting in revenue of 26.21 million baht, an increase from 18.48 million baht or 41.80%. Additionally, the property management business within the group generated total revenue of 7.51 million baht in the second quarter.

"In the second half of this year, the company will continue to implement its business plan to develop real estate that meets consumer needs for sale, rent, and services. Recently, the company plans to launch another residential project in a prime location, namely the 'Chuan Chuen Town Ratchaphruek-345', a new premium townhouse project that will open for pre-sale on August 25-26. We believe it will receive a positive response due to its location near Central Westgate shopping mall, the Si Rat Expressway, and the BTS, catering to the lifestyle of modern customers, with prices starting at only 2.39 million baht," Mr. Warasith Phokachai Phat concluded.

Thank you for the information from www.mk.com