SIRI Reports 14% Decline in 2Q24 Earnings from Lower Gain of Land Sales

Sansiri Public Company Limited (SET: SIRI) has announced its 2Q24 consolidated financial statement though the Stock Exchange of Thailand as follows;

Quarter 2Q24 2Q23
Net Profit (Loss)
Million Baht
1,387.05 1,621.15
Earning Per Share
(Baht)
0.0760 0.0970
% Change -14.44
6 Months 2024 2023
Net Profit (Loss)
Million Baht
2,702.03 3,202.93
Earning Per Share (Baht) 0.1500 0.1940
% Change -15.64

SIRI reported a net profit of Baht 1,387 million, a 14.4% decrease or Baht 234 million YoY, chiefly due to a lower recognition of gain from sale of land compared to previous year. This led to the company recording lower revenue at Baht 9,615 million, a decrease of 3.7% or Baht 373 million YoY.

In 2Q2024, Sansiri reported revenue from project sales amounted to Baht 8,486 million, representing an increase of 6% or Baht 478 million YoY. The revenue growth was from higher revenue from sales of single-detached houses, mixed products, and townhomes.

SIRI also announced a dividend payment of THB0.07 per share to be paid on 11 September 2024. The ex-dividend date is 28 August 2024.