Primo Service Solution, or PRI, has announced its business performance for the year 2023, achieving an all-time high revenue of 1.916 billion baht, representing a remarkable growth of 109% compared to the previous year. This exceeds the annual revenue target of 1.3 billion baht, with a net profit of 368 million baht, up 53% year-on-year. The company plans to distribute a dividend of 1.03 baht per share and will announce its plans for 2024 in early March, focusing on sustainable recurring income and expanding its customer base to drive growth across all business segments, aiming to become a Happy Maker.

Mr. Surin Sahachato Phokanant, CEO of Primo Service Solution Public Company Limited (PRI), a leader in comprehensive modern real estate services, revealed that the overall performance for 2023 showed a total revenue of 1.916 billion baht, growing 109% compared to 2022, surpassing the revenue target set at 1.3 billion baht. The net profit reached 368 million baht, an increase of 53% compared to the same period last year. In the fourth quarter of 2023 (October-December), the company achieved significant growth with revenue of 570 million baht, up 84% year-on-year.

“This growth stems from establishing a foundation for expanding our target customer base and continuously developing new businesses through joint ventures and acquisitions, resulting in an increase in our core subsidiaries to 14 companies from 8, covering services in all dimensions and every aspect of customers' lives. Our overall business aims to be a Super Living Service that fully meets customer needs. The strong foundation we have built, combined with new developments, has consistently produced results that exceed our annual targets,” said Mr. Surin.

All three business segments of PRI—the upstream segment, which includes Pre-Living Services; the midstream segment, which offers Living Services; and the downstream segment, which provides Living & Earning Services—have continuously expanded their customer base throughout 2023, driving sustainable recurring income for the future. Currently, the number of projects under management has increased to over 200 projects, up from 150 in 2022, partly due to acquiring shares in Projects Asia Co., Ltd., a leading engineering consultancy and construction management firm, enhancing PRI's recurring income base.

Additionally, PRI has established a new company in the midstream segment to support ongoing expansion, including a joint venture with Forviz Co., Ltd., a provider of digital solutions, to create LivTech Lab Co., Ltd. for developing service and living technology, aiming to enhance comprehensive real estate services through technology that meets all aspects of customers' lives (Service Tech & Living Tech Solutions). Furthermore, PRI has partnered with Throne Property Co., Ltd. and Novany Asset Co., Ltd., two experienced real estate brokerage firms, to establish a joint venture named Passion Asset 360 for real estate brokerage services for foreigners. PRI has also set up JUST CO ON to provide real estate brokerage services tailored to the luxury lifestyle of its clients.

Mr. Surin added that for the operational plan in 2024, the company will continue to grow by expanding its target customer base and new business ventures, fostering strong long-term growth. At the same time, it will continue to expand its Super Living Service through joint ventures with industry experts and consider mergers and acquisitions (M&A) to broaden its service offerings across upstream, midstream, and downstream segments in various dimensions, ensuring sustainable growth in the future. The business plan for 2024 will be announced in early March.

Due to the exceeding performance, the board of directors has approved a dividend payment for the last six months of 2023 at a rate of 1.0313 baht per share, totaling a cash dividend of up to 330 million baht. The record date for shareholders entitled to receive the dividend is set for March 14, 2024, with the dividend payment scheduled for May 23, 2024.

Primo Service Solution Public Company Limited (PRI) is a leading provider of comprehensive real estate services with over 11 years of experience, currently operating under three main business segments: 1. Upstream segment – Pre-Living Services, including construction management consulting, architectural design, structural, civil, and system works, as well as training and skill development services; 2. Midstream segment – Living Services, including management services for condominiums, housing estates, shopping malls, buildings, and offices, premium apartment services, and comprehensive real estate buying, selling, and leasing services; and 3. Downstream segment – Living & Earning Services, including housekeeping and maintenance services, as well as interior design and decoration services.