Ananda reports Q2 sales 28% above target

Growing 13% from the previous quarter, revising annual goals

 signaling continuous recovery in the second half of the year

 

Ananda Development Public Company Limited, or ANAN, a leader in urban residential development and the top player in the condominium market near electric train lines, announced that total project sales in Q2 2020 reached 4.918 billion baht, growing 13% from the previous quarter and exceeding the target of 3.842 billion baht by 28%. The company is preparing to revise its annual goals, indicating signs of continuous recovery in the second half of the year.

 

Dr. Chaiyut Chunhachai, Chief Financial Officer of Ananda Development Public Company Limited, stated that despite the impact of the COVID-19 pandemic on both domestic and international economies, the company managed to achieve sales of 4.918 billion baht in Q2, which is 28% higher than the target of 3.842 billion baht. This brings total sales for the first half of the year to 9.272 billion baht, accounting for 56% of the annual target for 2020. Ananda has expanded its market presence through online channels, particularly the “ANANDA iStore,” to meet the changing demands of consumers and adapt to the New Normal situation, receiving very positive feedback. In the future, online channels will become a primary sales avenue. Additionally, the continuous influx of project visitors since the beginning of the year, even during the lockdown, has significantly supported the company's sales.

Given the higher-than-target sales in the first half of the year, the company is preparing to revise its annual target for 2020. It also believes that the COVID-19 situation is improving in the second half of the year, as Thailand has effectively controlled the outbreak, with low infection rates leading to the easing of lockdown measures. Economic activities are gradually returning to normal, supported by low interest rates and various government measures to stimulate the economy, resulting in increased confidence among businesses and consumers. This aligns with the rising consumer confidence index observed in May and June, which will benefit the real estate sector. The outlook for continuous improvement in the second half of 2020 is promising.