A5 has announced its Q3/2023 financial results, achieving an all-time high with total revenue of 427.53 million baht and a net profit of 178.25 million baht, marking a growth of 419.7%. The outlook for Q4/2023 remains positive, with signs of growth in the high-end real estate market. The company is set to launch the "Vana Ratchaphruek-Westville" project valued at 1.7 billion baht, with a backlog of over 3.3 billion baht expected to be recognized gradually until 2024, confident in reaching the revenue target of 1.6 billion baht.

Mr. Supachok Panjathas, CEO of Asset Five Group Public Company Limited (A5), revealed that the Q3/2023 results showed total revenue of 427.53 million baht, an increase from 76.25 million baht in the same period last year, representing a 461% growth. The net profit was 178.25 million baht, up from a net loss of 4.35 million baht in the previous year, achieving an all-time high for three consecutive quarters.

For the nine-month period of 2023, the company reported total revenue of 1,095.82 million baht, a 75% increase from 627.63 million baht in the same period last year, with a net profit of 347.72 million baht, up from 74.62 million baht, reflecting a 366% increase. This growth is attributed to the continuous improvement in sales and revenue recognition from the "CINQ ROYAL Krungthep Kreetha" project, as well as additional profit sharing from the Tonson One Residence project.

Looking ahead to Q4/2023, the business outlook is promising, with plans to launch a luxury single-house project, "Vana Ratchaphruek - Westville," priced between 25-50 million baht, covering approximately 17 rai with 43 units, totaling around 1.7 billion baht. The project is strategically located in the heart of Ratchaphruek, adjacent to two leading shopping malls, The Crystal SB Ratchaphruek and the upcoming Central Westville, with a sales target of approximately 200 million baht for this year.

As of September 30, 2023, the company has a sales backlog of 3.3 billion baht, consisting of 2 billion baht from horizontal projects, including "Sank Royal Krungthep Kreetha," "Ban Ratchaya Prachasanti in Udon Thani," and "Ban Ratchaya Aekmantra in Udon Thani," along with 1.3 billion baht from the vertical project "Tonson One Residence," which will begin to be recognized gradually from late this year through 2024.

However, in the remaining months of this year, the business operations will continue with caution amid challenges from economic volatility. The company remains focused on managing land and construction costs at appropriate levels to maintain profitability and drive revenue growth towards the target of 1.6 billion baht.