News Column

After big year, developers expect slow start

February 28, 2014

By Kanana Katharangsiporn, Bangkok Post, Thailand



Feb. 28--Two SET-listed property developers, Pre-Built Plc and Sena Development Plc, anticipate slow business growth this year, mainly due to escalating political uncertainty and unfavourable economic conditions.

Pre-Built chief executive Chaiyarat Thampeera said 2013 was the best growth year for the property sector in a decade.

But political problems beginning late last year and continuing into the first quarter have dampened activity.

"Though the overall property market will tend to be sluggish, we expect 20% growth in the construction business this year due to a large number of jobs carried over from previous years and a lack of contractors," said Mr Chaiyarat.

Pre-Built posted a consolidated net profit of 261 million baht last year, up 34%, on revenue of 6 billion baht, up 47%.

Revenue was 5 billion baht from construction business, up 48%, 707 million baht from precast concrete production, up 40%, and 577 million baht from property development, up 24%.

Pre-Built aims for 6.8 billion baht in consolidated revenue this year, up 13%.

Separately, Sena director Kessara Thanyalakpark said her company has set a revenue target of 2.5 billion baht this year, up 25%, with presales up 12% to 2.8 billion baht.

In 2013, the company's total revenue rose 19.3% to 2.07 billion baht, with a sales backlog of over 2 billion baht. Profit fell slightly to 272.02 million baht.

Shares of PREB closed yesterday on the Stock Exchange of Thailand at 6.65 baht, down 15 satang, in trade worth 4.96 million baht.

Shares of SENA closed at 2.36 baht, up 18 satang, in trade worth 8.11 million baht.

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(c)2014 the Bangkok Post (Bangkok, Thailand)

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Source: Bangkok Post (Thailand)


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