- Revenue totalled 2.577 billion baht, an increase of 1.993 billion baht or 341% year-on-year, while net profit totalled 684 million baht, a growth of 190% year-on-year.
- Embarked on a "Total Dimension" strategy to become leading provider of smart integrated property platforms. Under the unifying idea 'experience matters', the company has committed to creating valuable experiences for customers through its high-quality properties, total services and solutions that meet the evolving businesses and industries.
- Adoption of unifying global brand "Frasers Property" will broaden abilities as well as opportunities to expand businesses.
BANGKOK, 14 FEBRUARY 2019
Frasers Property (Thailand) Public Company Limited (formerly known as TICON), the leading provider of smart integrated property platforms, today announced its business performance for the first quarter of fiscal year 2019 from 1 October to 31 December 2018 (Q1/2019).
Mr. Sopon Racharaksa, President of Frasers Property Thailand, revealed, "In Q1/2019, the company's net profit totalled 684 million baht, increasing by 448 million baht or representing a growth of 190% from the corresponding period last year. Our total revenue soared up to 2.577 billion baht, an increase of 1.993 billion baht or 341% year-on-year. The company's solid execution of our business expansion plan contributed to our sterling results. This growth was also contributed by leased factory and warehouse spaces bringing in total income of 390 million baht. The occupancy rate of factories is 72%, increased from 68% and the occupancy rate of warehouses is 79%, increased from 71% from the corresponding period last year. Income from sale of assets in Chonburi, Samutprakarn, Ayutthaya, Pathumthani and Prachinburi to Frasers Property Thailand Industrial Freehold and Leasehold REIT (FTREIT), the largest industrial and logistics REIT in Thailand, was 1.907 billion baht. These contributions reflected this year's solid performance."
The company is confident that it will continue delivering strong fiscal performance while gearing up to carry out its proactive business strategy. After the rebranding to Frasers Property Thailand with the new trade ticker "FPT", the company will benefit from the know-how, expertise and strong global network from Frasers Property.
The significant growth was a result of our business expansion and strategy which aligns with industry trends and meets the needs of businesses there by gaining investors' trust. In late 2018, the company successfully developed many Built-to-Suit projects such as a custom-developed property for health care and beauty products for Berli Jucker Logistics (BJC) and a built-to-suit warehouse in Bangplee for Power Buy as its largest distribution center in Asia. Additionally, its factories and warehouses projects in the Eastern Economic Corridor (EEC) are highly in demand, especially those in automotive and electronic sectors. This upward trend has been supported by the growth of the export sector and the government's EEC development plan.
"Following the rebranding in January 2019, the new business strategy and organizational structure were put in place to serve FPT's business expansion plans. The aim is to develop properties in multiple asset classes while continually delivering excellence in industrial property development with the comprehensive suite of services and total solutions to meet the needs of all groups of customers. For year 2019, we target around 120,000 sq m of the build-to-suit development, and a total occupancy rate of around 80%. Concurrently, the company is embarking on our new mega-development project plan after placing the winning bid in the auction of 4,300-rai of land on the prime location of Bangna-Trad Road km 32 and a new development of in-city last mile logistics park through a joint-venture with Sahathai Terminal of a 50 rai land close in proximity to Bangkok CBD. We are also gearing up to develop a Hyper-scale Data Centre on a 15-rai plot of land, situated on Ramkhamhang Road. We are excited with a strong start to 2019, with results exceeding our expectations for the first quarter, and we are confident in delivering a solid performance for this fiscal year. We are certain that the company is on track for continued success to become leading provider of smart integrated property platforms," Mr. Sopon said.
