Condo drives doubling of profits
Property firm Krisdamahanakorn announced total revenue of Bt1.6 billion last year for double growth from Bt789.18 million in 2005, which it says is a better record than other property firms in the market.
The company also announced a net profit of Bt160 million in 2006, a dramatic improvement since the company announced a net loss in 2004. Senior executive vice president Virat Aiew-aksorn said its condominium project "The Kris" drove the doubling in revenue. The company expects sales growth of up to 50 per cent, to Bt2.4 billion, following strong demand for the second phase of "The Kris" on Ratchada-Suthisarn Road. Virat said that the company planned to launch another condominium project in the Lat Phrao area in the second half of this year to meet customer demand. "Demand in the residential market started to change last year for condominiums rather than detached housing. As a result we expanded our first condominium project last year and received a positive impact from our customers that challenged us to launch the next condominium project this year," he said.
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