The Platinum Group announces its 9 months financial result. Profit was 523 million baht Expected Q4/2016 will move into a hi-season, a full-year performance growth and will meet the target

Stocks and Financial Services Press Releases Tuesday November 22, 2016 13:00
Bangkok--22 Nov--IR PLUS
Move forward to launch new project "Talad Neon" in this December

"The Platinum Group announces its 9 months financial result. Profit was 523 million baht. It is expected that Q4/2016, hi-season begins; a full- year performance growth and will meet the target insists to launch new project "Talad Neon" in this December!! Continues to support The Platinum Empowering SMEs #2 Project to create sustainable growth and strengthen SMEs shop in The Platinum Fashion Mall and move forward to The Best Wholesale Fashion HUB of ASEAN.

Mr. Chanchai Phansopha, President of The Platinum Group Public Company Limited or PLAT, The leader in commercial property development, announces the first 9 months financial result of the year. The profit was 523 million baht or increasing 14% compared to the same period of last year. The total revenue is 1,381 million baht or increasing 7% when compared to the same period of last year resulting in increased revenue from space rental fee and income from hotel business. The operating result of Quarter 3/2016, the company had a profit of 179 baht, increased by 13% year over year. Additionally, operating revenue is 469 million baht, moved up 9%. " Mr.Chanchai Phansopha " President, exhibits the trend of financial result of quarter 4/59 is expected to achieve strong growth due to high-season period of the business which will support the company's financial result to meet the target.

Mr. Chanchai Phansopha, President of The Platinum Group Public Company Limited or PLAT. The leader of commercial real estate development, reveals regarding operational result of the company and its subsidiaries for the first 9 months of 2016. The company had profit of 523 million baht, increased by 65 million baht or 14% if compared to the same period of last year. The total revenue was 1,381 million baht, it was up 85 million baht or 7% when compared to the same period of last year which having total revenue of 1,296 million baht and gross profit of 62%. The gross profit is slightly increased from gross profit of the same period of last year. For financial result in Quarter 3/2016, the company had net profit amount 179 million baht, up 13% compared to the same period of last year. The key factor encouraging growth rate of operative revenue were increased rental fee during the year for the space under terminated space rental contract of The Platinum Fashion Mall and increased revenue from rental space of the said project. The company changed a space in company self-operated restaurant zone to be rental space. The company also entered into common area and advertising billboards space rental contract made by and between the company and The Platinum Fashion Mall Juristic Person on 1 June 2016 and managed such space to generate revenue from renting space for organizing events and advertising billboards in shopping center resulting in increased revenue from rental space and service.

In addition, the revenue from hotel business for the first 9 months of 2016 was increased by 13 million baht or increasing 5% year over year. Due to in 2016, the company had increased room rental rate as well as the number of corporate customer was increased. The aforesaid group of customer had room rental rate at higher price level. The company also prepares seasonal menu package such as Christmas Eve Buffet Dinner, Christmas Day Buffet Brunch, New Year's Eve Buffet Dinner, New Year's Eve Buffet Lunch and International Dinner Buffet in Dec. 2016 – Jan. 2017 and Mixed Seafood & Cheese will be available throughout two months.

Mr. Chanchai said the trend of financial results in Quarter 4/2016 is expected to achieve strong growth due to business hi-season. Furthermore, in December, the company will introduce new night market in downtown called "Talad Neon - Downtown Night Market", located on Petchburi Road between Soi Petchburi 23 – 29 (Opposite the entrance of Chidlom road), in the area of 10 Rai which included rental space of 5,600 square meters with 900 shops. The parking lot for 200 cars is also available. The budget is more than 80 million baht. Payback period is expected at approximately 1 year. The night market will help increase revenue – profit of the company and emphasize the selling point of being a large night market that meets urban lifestyle of digital age.

Regarding the progress of The Market project, a large retails shopping center situated on Ratchadamri Road with total area of 170,000 Sq.m. and the value of investment of 5,800 million baht, pilling is completed. Now. All of these are expected to be finished within December 2016. The contractor's bidding and construction of structure on the ground will start in January 2017 and it is expected to be completed in


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