Pruksa Holding announces its performance results for Q2 2023 as net profit grew by 141%, and total revenue increased by 32% along with an interim dividend of 0.31 Baht per share.
-15 August 2023- “Pruksa Holding” announces its Q2 2023 performance, revealing a net profit of 1,038 million Baht, marking a growth of 141%.The total revenue reached 7,107 million Baht, demonstrating a 32% increase compared to Q2 2022. The net profit of 1,690 million Baht and total revenue of 13,665 million Baht for the first half of 2023, represent growth rates of 72% and 20%, respectively, compared to the first half of 2022.
Mr. Uten Lohachitpitaks, the Group CEO of Pruksa Holding Plc, unveiled the Q2 2023 performance results, stating that Pruksa Holding, or PSH, achieved a total revenue of 7,107 million Baht, an increase of 32%. This growth was driven by increased sales in both the real estate and healthcare businesses. The net profit reached 1,038 million Baht; a 141% growth compared to Q2 2022. Furthermore, in the first half of the year, Pruksa Holding recorded a net profit of 1,690 million Baht and a total revenue of 13,665 million Baht. Approximately 700 million Baht of this revenue came from the successful stock swapping of Inno Precast Co., Ltd., a subsidiary of PSH, to invest in the shares of General Engineering Public Company Limited (GEL). This strategic move presents an excellent business opportunity for generating income and strong growth for both companies. Excluding stock swapping, the core business of the group maintained a net profit growth of over 10% in the first half of 2023 compared to 2022. This reflects the group’s current success and positive market reception. Both the real estate and healthcare sectors experienced significant growth, also transfers and high order backlogs for low carbon precast concrete panels of Inno Precast exceeded 2,200 million Baht, surpassing the original target set at 1,000 million Baht at the beginning of the year. This achievement further solidifies Pruksa Holding’s position as the Number 1 low carbon precast concrete producer in Thailand.
In the real estate business, there were sales totaling 4,650 million Baht, a 4% growth from the previous quarter. Transfers amounted to 5,650 million Baht, representing an 11% growth from the second quarter of the year 2022. These figures were generated from the six projects including horizontal product group and condominium transfers. The momentum continued from the beginning of the year, with sales reaching 9,116 million Baht and transfers totaling 11,680 million Baht in the first half of the year. Six consecutive projects were launched, contributing to this performance, with a combined value of 4,848 million Baht. Notably, the “Chapter One All Ramintra” project achieved sales of over 50% and received positive responses from both Thai and foreign customers. Additionally, the “Plum Condo New West” project in Bang Yai area garnered bookings of up to 580 million Baht during the past pre-sales event. These projects benefited from strategic locations, including proximity to the Central Westgate shopping center and being just 400 meters away from the Purple Line’s Bang Yai Intersection station. Affordable pricing started at 1.59 million Baht.
Based on the results of the first half of the year, Pruksa considered and approved an interim dividend payment for the fiscal year 2023 at a rate of 0.31 Baht per share, a competitive return rate in the market. The list of shareholders will be finalized on August 28, 2023, and the dividend will be paid on September 8, 2023. For the latter half of the year, there is a plan to launch 17 projects with a total value of 19,000 million Baht. This continuous project launch strategy is aimed at achieving a 30% increase in premium product segment during the first half of the year.
In the second quarter of 2023, Pruksa Holding’s Healthcare business reported a total revenue of 440 million Baht, marking a significant growth of 117% compared to the same period in 2022. The total revenue for the first half the year was 852 million Baht. The ViMUT Hospital’s revenue excluding COVID-19 surged by 77%. The number of new patients seeking treatment increased by more than 26%. Additionally, The ViMUT Hospital formed a collaboration with “Naluri,” a digital healthcare service provider, to offer comprehensive physical and mental health consultations through a holistic approach. This service was extended a free of charge to patients receiving health check-ups at the ViMUT Hospital for a duration of one year. Plans have also been set to elevate the hospital’s standards to a Level 3 Healthcare Accreditation (HA) by Q3 2023, aiming to provide world-class healthcare services in order to expand services to international patients. Furthermore, the hospital has also established a center for ENDOSCOPY & GI MOTILITY UNIT. Additionally, there has been an expansion of collaboration between the two groups, as both the ViMUT Hospital and Theptarin Hospital have prepared to establish a Medical Academy. This serves as another platform for the development of medical personnel and the generation of new revenue for the group.
“Furthermore, Pruksa Holding’s exceptional efforts in environmental, social, and governance practices were acknowledged by its inclusion as an ESG 100 registered company for the year 2023 by Thaipat Institute. Moreover, Pruksa Holding’s dedication to excellence is evident in its adherence to the Global Reporting Initiative standards, which emphasize human rights and sustainable development. These efforts are aimed at providing affordable residential and healthcare services for people from all generations.” added Mr. Lohachitpitaks.
