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Supalai sees sales rising 30%: End of tax breaks hurts 2004 revenue.

Bangkok Post (Bangkok, Thailand)

| March 02, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Ploy Chitsomboon

Mar. 2--The listed developer Supalai expects property sales to reach 6.13 billion baht this year, or 30 percent higher than last year, helped by planned price increases of 5-20 percent for housing units by midyear.

Supalai last week reported 2004 net profits of 480.7 million baht, a sharp decline from 1.2 billion the previous year and attributed to declining revenues following the expiration of tax incentives for buyers at the end of 2003.

But company executives told analysts yesterday that its prospects for housing sales looked stronger for 2005.

"In 2004, we had total realised revenues of 2.175 billion baht, ...

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Source: HighBeam Research, Supalai sees sales rising 30%: End of tax breaks hurts 2004 revenue.