Primo Service Solution or PRI has announced its Q1/2024 financial results, achieving revenue of over 416 million, a 5% growth, along with a net profit of 80 million. This success comes after establishing a strong foundation in upstream, midstream, and downstream real estate services, as the company continues to drive its business forward in four key areas: expanding new services, developing personnel, enhancing technology, and caring for society and stakeholders, all aimed at sustainable growth.

Mr. Surin Sahachartphokanant, Chief Executive Officer of Primo Service Solution Public Company Limited or PRI, a leader in comprehensive modern real estate services, revealed that for Q1/2024 (January-March), the company generated revenue of 416 million, reflecting a 5% increase compared to the same period last year, with a total net profit of 80 million. This growth is attributed to the company's establishment of a continuous revenue foundation across all real estate service segments, from upstream to downstream, and the expansion of new business areas over the past 1-2 years, allowing for comprehensive client service packages and consistent revenue recognition from various projects and business types.

“In recent years, we have experienced significant growth due to our relatively low initial revenue base. Today, our foundation has broadened and expanded from various businesses. Therefore, PRI's future growth will be stable and sustainable, possibly not doubling but focusing on every factor related to service work. For instance, in Q1/2024, we prioritized increasing our workforce to support the growing number of projects,” Mr. Surin stated.

Mr. Surin further stated that in Q2/2024, the company will continue to pursue its plan, Elevate Your Living Experience, accelerating efforts in four areas to ensure business growth in all dimensions:

1. Expanding Seamless New Services (Expanding Our Business Horizon) - Increasing new services and businesses across upstream, midstream, and downstream to meet the needs of the real estate ecosystem and residential service ecosystem, while also targeting more B2C customers, including interior design and landscaping businesses.

2. Enhancing Personnel Skills (People Development) - Collaborating with educational institutions offering real estate courses to upskill and reskill both current and new employees, while continuously implementing the Management Trainee program.

3. Advancing New Innovations (Enhance Innovation + Technology) - The company, Lift Tech Lab Co., Ltd., a joint venture within the group, will elevate service delivery through innovation development and data accessibility via the newly revamped Primo Plus application, along with developing new platforms to facilitate service work, such as a cleaning service booking platform, an automated maintenance tracking platform, and a visitor management platform for projects.

4. Caring for Society and the Environment (ESG & Sustainability for Future Living) - Participating in waste management, energy saving, and social and environmental awareness in residential projects managed by PRI.

“The most important asset for service work is people, while the asset that meets the lifestyle needs of the new generation and will help the business grow is technology and innovation. In the remaining nine months, we will continue to develop both people and technology to better meet the needs of our customers across B2G, B2B, and B2C segments, increasing the contract renewal rate with existing clients and expanding our base to new customers more easily. At the same time, we will seek opportunities for business expansion through both organic and inorganic growth, such as joint ventures and acquisitions in businesses that complement our existing operations, alongside caring for society and the environment,” Mr. Surin added.

The company will also continue to bid for new projects in consulting services, construction management, and building management, aiming to generate revenue of 2.25 billion this year.

Primo Service Solution Public Company Limited or PRI is a leading provider of comprehensive real estate-related services in the country, with over 11 years of experience. Currently, it operates under three main business groups:
1. Upstream Business Group – Pre-Living Services, including construction consulting, architectural design, structural work, civil engineering, and system work, as well as training and skill development services for personnel.
2. Midstream Business Group – Living Services, including management services for condominium juristic persons, housing estates, shopping malls, buildings, and offices, premium apartment services, and comprehensive real estate buying, selling, and renting services.
3. Downstream Business Group – Post-Sale Living Services, including cleaning and maintenance services, interior design, and decoration services.