IN Brief: AP sees profit dipping

BackMay 10, 2007

PROPERTY :Asian Property Development Plc said its first-quarter net profit would fall short of the 233 million baht it earned in the same quarter last year.

But full-year net profit would top the 1.34 billion baht earned last year, helped by strong condominium sales, said managing director Pichet Vipavasuphakorn.

"First-quarter net profit should fall due to higher selling and administration expenses incurred by new projects," Mr Pichet said. "We should achieve our sales target this year and net profit for the year should rise along with the sales."

The company aims for sales of seven billion baht this year.

AP shares closed yesterday on the SET at 4.50 baht, down four satang, in trade worth 51.7 million baht. - REUTERS

 

Source: Bangkokpost
Thursday May 10, 2007