ANAN Books 5.5 Million Baht of Profit in 1Q21 without Any Extraordinary Items

Ananda Development Public Company Limited (ANAN) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

ANAN reported a net profit of 5.54 million baht in 1Q21, decreased 96.31% from a net profit of 150 million baht in 1Q20. The decrease was mainly due to the same quarter last year recording of the sale of investment in a subsidiary company, namely Bira Circuit One Co., Ltd. and Bira Kart Co., Ltd. in the amount of 356.5 million baht, in line with the strategy to reduce proportion of non-core business and emphasizes on increasing the efficiency of the company's core business.

1Q21 share of profit from investment in joint ventures was 155.3 million baht, a decrease of 4.2 million baht or 2.6% from the same period last year. In 2020, there were seven new condominium projects which just finished and started to transfer including Elio Del Nest, Ideo Q Victory, Ashton Asoke-Rama9, Ideo Q Sukhumvit 36, Ideo Mobi Sukhumvit Eastpoint, Ideo Ratchada-Sutthisan, and Elio Sathorn-Wutthakat.