"Origin" reports bright Q2/2019 results, pushing first half revenue to 6.79 billion baht with a net profit of 1.458 billion baht. The interim dividend for the first half is set at 0.205 baht per share. In the second half, the company is ready to launch more than 10 new projects worth a total of 17.8 billion baht as planned.

Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that the company's Q2/2019 performance was satisfactory, with total revenue of 3.336 billion baht, resulting in a total revenue of 6.79 billion baht for the first half, accounting for 36% of this year's total revenue target. The company is confident that revenue will exceed the target of 19 billion baht.

Meanwhile, the company's net profit for Q2/2019 was 737 million baht, growing from the first quarter of 2019, maintaining an outstanding profit margin with a gross margin of 43% and a net profit margin of 22%. This resulted in a net profit of 1.458 billion baht for the first half, as new condominium and housing projects have been completed and revenue is being recognized as planned, such as the KnightBridge Phaholyothin Interchange project, Kensington Sukhumvit Theparak project, and Britania Wongwaen-Hathairat project, along with continuous strong gross profit capabilities, leading to robust first half results.

“Although the overall real estate market in the first half of 2019 had relatively few new project launches, the development of quality products and services that meet consumer demand, along with a strategic adjustment to create a new brand (The Origin) to cope with market volatility, has allowed the company to maintain trust, reflected in excellent performance that defies overall market trends,” Mr. Pirapong stated.

Due to such outstanding growth, the company's board of directors has approved the payment of an interim dividend for the first half of 2019 at a rate of 0.205 baht per share, totaling no more than 502,060,156.06 baht, representing a dividend payout ratio of 43.78%. The record date for shareholders entitled to receive the interim dividend is set for August 29, 2019, and the payment date is September 13, 2019.

Mr. Pirapong further stated that the recent success in launching the The Origin Ram 209 project, which sold out within 1 month, reflects the company's strong performance. In the first half of 2019, the company launched only 4 new projects worth approximately 8.8 billion baht, with total sales exceeding 13 billion baht, accounting for 46% of the annual sales target of 28 billion baht. In the second half, the company plans to launch more than 10 new projects, including 5 condominium projects targeting the youth market under the The Origin brand, 1 luxury condominium project under the Park Origin brand, 5 housing projects under the Britania brand, and a mixed-use project in Rayong, with a total project value of no less than 17.8 billion baht.

The company also plans to participate in various events with its residential projects and continuously organize campaigns that meet consumer needs, confident that by the end of this year, the company will achieve sales of 28 billion baht and revenue of 19 billion baht as targeted.

Origin Property Public Company Limited has a diverse business structure, including:

1. Residential Development Business: Developing condominiums and housing projects, with 58 projects such as Park Origin, KnightBridge, Notting Hill, Kensington, and Britania, with a total project value of over 94 billion baht.

2. Recurring Income Business: Including hotels, serviced apartments, and retail.

3. Service Business: Including property management, real estate agency services, real estate consulting, and a vision to continuously expand into new business types to become a comprehensive real estate operator.

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