The Platinum Group (Plat), a commercial real estate developer, on Thursday reported a solid financial performance in 2017, with revenues and profits seeing double-digit growth.
Total revenue was Bt2.059 billion, an increase of Bt196 million or 11 per cent.
Profits stood at Bt772 million, up Bt68 million or 10 per cent from 2016.
Directors approved a dividend payment of Bt0.20 per share and stock will be given ex-dividend status on May 7, with dividend payments scheduled for May 23.
President Chanchai Phansopha said the 2017 financial performance represented an all-time high for the company.
Gross profit increased by 14 per cent over 2016, to Bt145 million, as a result of greater revenues from rentals and services, hotel operations and food and beverages – which together accounted for 63 per cent of total revenue.
The company is highly confident about its retail centre, the Market Bangkok on Rachadamri Road, which is expected to open at the end of 2018.
It is anticipated to substantially bolster revenue from rental. The sales team began offering spaces for rent in the second quarter of 2017.
The remaining spaces are still open for rent. Others are in the lease-approval process.
After the sales office for the Market Bangkok opened on the 10th floor of the Platinum Fashion Mall on January 18, rental spaces for fashion stores proved popular. A large number of clothing store operators asked to see the project mock-up.
The Market Bangkok will occupy approximately 20 rai and have a total construction area of 200,000 square metres, excluding the areas for the hotel and offices, plus rental area of 40,000 square metres.
There will be parking space for up to 2,000 cars. The retail area encompasses six floors.