Aiming at sales growth of 10-15% annually — CPF aims for sales to reach Bt700bn over the next five years, or to increase 10-15% per year. In 2012 sales reached Bt357.175bn, a 73% rise YoY, with net profit of Bt18.79bn, equating to Bt2.59/share. It will pay a DPS of Bt0.50 on 2H12. (Khao Hoon, 27/02/13)
Targets sales growth of 15% — HMPRO target sales growth of 15% as it prepares to invest more than Bt10bn in opening 10 new branches to increase the number of branches to 80 in four years. It expects its three new “Mega Home” stores, targeting contractors and developers, to take in Bt700mn worth of sales per store this year and it plans to open two more stores in Malaysia next year. (Khao Hoon, 27/02/13)
Comment: HMPRO’s revenue breakdown over the past 6 years clearly demonstrates how Bangkok hasn’t been the growth driver for Thailand for quite a while already
Set to expand throughout AEC — JMART is to expand further in the AEC market, with its first store to open this year in Myanmar and next year in Laos and Cambodia, as it plans to expand up to 20-30 stores this year and targets revenue growth of 40% YoY. It will invest Bt250mn in opening new stores and renovating existing ones. (Khao Hoon, 27/02/13)
Comment: Loved this company for years, but not because of the phone business, far more for its debt collection business
Pruksa to manage condo speculation — The developer’s latest board meeting decided on a policy to restrict speculation by declining further sales when a customer has already signed up for five condo units, which means they almost certainly wish to sell the booking contracts rather than have the units transferred in the future. (The Nation, 27/02/13)
Comment: This is something we’ve long suspected, yes the condominium projects are all being sold out or “booked” during the sales period, however how many are really transferred when the projects are completed?
Closes second Pattaya project — SIRI closed sales in its second project in Pattaya, “The Base Central Pattaya”, with 1,112 units, bringing in presales of more than Bt3.1bn and pushing presales to Bt16bn, closing in on its first quarter’s target of Bt20bn. (Khao hoon, 27/02/13)