NOBLE ANNOUNCES THE COMPANY'S RECORD-HIGH QUARTERLY REVENUE AND NET PROFIT WITH FULL-YEAR TARGET OF TOTAL REVENUE OVER THB 14,000 MILLION
Noble Development Public Company Limited (Noble) announced its operating result for Q3/2019, recording the highest performance in the Company’s history amounting to THB 7,598 million from total revenue and net profit of THB 1,151.5 million. This result represents 368% and 321% growth Y-o-Y accordingly. For the first nine months of 2019, the Company’s total revenue amounted to THB 12,115.9 million or 260% Y-o-Y growth with a net profit of THB 2,625.3 million, rising by 454% compared to the same period last year.
Mr. Arttavit Chalermsaphayakorn, Chief Financial Officer of Noble Development Public Company Limited, said “the increase in the Company’s total revenue and net profit of this quarter was driven by the sale of properties including land for future development, one of which Noble has sold to the joint venture co. between Noble and Hongkong Land during September this year. As a result, Noble has high level of cashflow from operation which enables the Company to expand its business. Noble has this year already purchased three new land plots, worth THB 1,500 million for developing the Company’s new projects, which will be available for sale in the last quarter of this year and next year, including NUE NOBLE SRINAKARIN-LASALLE. In addition, during October, the Company had interim dividend payout of THB 5.20 per share. As of Q3/2019, the Company’s net gearing ratio stood at 1.49 times and TRIS Rating, the credit rating agency in Thailand, has affirmed the Company rating in accordance with its announcement on November 11, 2019.”
Mr. Arttavit also said “In the last quarter of 2019, the Company will have two completed projects to transfer: NOBLE RECOLE at Sukhumvit 19 and NOBLE BE33 at Sukhumvit 33, with total value of approximately THB 5,500 million which will start to be recognized from the fourth quarter of this year.
In addition, the Company plans to launch at least two new projects worth over THB 3,500 million during the remainder of 2019 and early 2020 : NUE NOBLE SRINAKARIN-LASALLE, the latest project under the brand “NUE” aiming to continue the brand’s success by expanding into the affordable market, and NOBLE ABOVE WIRELESS-RUAMRUDEE, a new condominium project located in the urban Bangkok city.
Regarding the outstanding performance this year, Mr. Arttavit believes that Noble’s Full-year revenue in 2019 will achieve over THB 14,000 million, setting the highest record in the Company’s history.