SC shows strong financial results at the end of 2020 despite COVID-19 outbreak - SC Asset
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SC shows strong financial results at the end of 2020 despite COVID-19 outbreak

26-02-2021

The company has announced that it will pay a dividend of 0.18 baht per share on May 20, 2021.

Mr. Attapol Sariddipuntawat, chief corporate officer of SC Asset Corporation Plc, a leading property developer with the mission to provide every homebuyer a quality residence “For Good Mornings”, said the company’s financial results at the end of 2020 showed high total revenue and presales earnings despite the COVID-19 outbreak. This is all thanks to SC’s aggressive strategy of speedily and flexibly managing projects to develop products and services that meet the highest standards.

As of the end of 2020, SC reported total revenue of 19.051 billion baht, recording a 7% increase year-on-year (YoY). Up to 95% of its total revenue or 18.977 billion baht came from its property business, of which 14.265 billion baht was contributed by horizontal residential projects (up 27% YoY).

The remaining 5% of the total revenue came from the service sector and rental income.

Thanks to its high total revenue, the company earned a net profit of 1.898 billion baht or 0.45 baht per share.

The company also recorded 16.602 billion baht in total presales, up 15% YoY. Of this, 54% of total presales (backlog) worth 5.634 billion baht will be transferred to customers this year, Mr. Attapol said.

As of December 31, 2020, SC and its subsidiaries reported total assets at 44.319 billion baht and total liabilities of 25.676 billion baht with its per-share book value standing at 4.46 baht.

Meanwhile, SC’s board of directors has agreed to pay a dividend of 0.18 baht per share on May 20, 2021, based on its financial results as of the end of 2020.

For this year, SC plans to launch 11 new residential projects worth 17 billion baht, three of which are condominiums valued at 8 billion and the remainder eight are horizontal residential projects valued at 9 billion baht, which is the company’s main product.

The horizontal projects include:

  • Single-detached houses priced over 10 million baht under the brands “Bangkok Boulevard” and “Bangkok Boulevard Signature” at several locations including Petchakasem-Pinklow, Don Mueang-Changwattana, and Watcharapol-Ramindra.
  • Single-detached houses going for between 5 and 10 million baht per unit under the “Venue ID” brand. The project targeting Generation Y will be located on Rama V, Westgate and Srinakarin-Bang Na.
  • Home offices starting at 5 million baht per unit under the brand “Work Place” on the Ramkhamhaeng-Ring Road, and townhomes starting at 2 million baht per unit under the brand “Verve” at Saimai-Phahonyothin.

Meanwhile, the company is launching homes for single occupants or “Baan Khon Sod” under the concept “One Size Doesn’t Fit All” at Avenue Rama on March 6 and 7.

Mr. Attapol said the company is strong financially and has high liquidity, not just in the form of cash in hand but also a credit line with banks worth more than 10 billion baht. He said that should easily cover the company’s business investment plans this year.

“With the confidence of our customers and business partners, together with our readiness in all areas, SC is confident that in 2021 it will achieve strong growth in both presales and total revenue from our 58 horizontal projects worth 36.9 billion baht and 11 condominium projects worth 20.6 billion baht,” he said.

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