A5 has revealed its first half of 2024 financial results, achieving revenue of 920.28 million baht and a net profit of 310.10 million baht, marking an 82.98% increase. The company recognized revenue from the Sank Royal project in Bangkapi, with strong sales across all projects supporting a backlog of 1.1 billion baht. The second half of the year is expected to see demand in the luxury real estate market despite challenges, prompting a shift in marketing strategies and special campaigns targeting high purchasing power. The company is preparing to showcase model homes along with new phases of the Vana Ratchaphruek – Westville project, and is ramping up promotions to boost sales. There are only 3 units left available for ownership in the Sank Royal project, starting at 120 million baht.

Mr. Supachok Panjathas, CEO of Asset Five Group Public Company Limited (A5), stated that the first half of 2024 saw total revenue of 920.28 million baht, an increase of 252 million baht or 37.71% from the same period last year, which had total revenue of 668.28 million baht. The net profit reached 310.10 million baht, up 140.63 million baht or 82.98% compared to the previous year’s net profit of 169.47 million baht.

For the second quarter of 2024, total revenue was 448.46 million baht, an increase of 118.69 million baht or 35.99% from the same period last year, which had total revenue of 329.76 million baht. The net profit was 167.35 million baht, up 84.68 million baht or 102.43% from the previous year’s net profit of 82.67 million baht.

The company’s improved performance in both revenue and profit is attributed to the successful transfer of ownership for the Sank Royal project, which is on track to recognize full revenue by the end of 2024, along with profit sharing from the Tonson Wan Residence joint venture, which is also meeting targets. Additionally, the company has a continuous sales pipeline, currently holding a backlog of 1.1 billion baht, which will begin to be recognized starting from the third quarter of 2024.

“Overall, the real estate market in the second half of the year is expected to recover due to several positive government measures. We see continued demand for luxury housing, while the growth of the real estate market for homes priced below 3 million baht is likely to slow down due to economic impacts,” he added.

However, the company remains committed to its plans, preparing to open model homes along with new phases of the Vana Ratchaphruek – Westville project, which features 3-story single-family homes on 17 rai of land, offering high privacy with only 43 units priced between 30 and 60 million baht. The project highlights a new design of single-family homes that harmonizes with nature, located in the heart of Ratchaphruek, adjacent to the large Central Westville mall. Additionally, the Sank Royal project is running the campaign “Last Chance to Own a LEGACY,” offering exclusive pricing for the last 3 families before the project closes, starting at 120 million baht. The company is also preparing to launch a new Sank Royal project valued at 1.6 billion baht by the end of this year, while accelerating its sales strategy to target high purchasing power and enhance competitive capabilities amidst ongoing challenges in the real estate market,” Mr. Supachok concluded.