Noble unveils new strategy for growth Aims to achieve 3-year sales revenue of Bt30 billion
Noble Development’s new management team announced strong 2018 results of THB 2.16 earnings per share, which is the third highest in the Company’s history with industry leading net margins of 19.2%. Pre-sales of upcoming projects increased by 148% in 2018. Thongchai Busrapan, Chairman, Co-CEO and President, Noble Development Plc, said: “The Company’s 2018 results have created a solid basis on which the new management team can build upon. Our new three-year strategy will leverage on this foundation to achieve a quantum leap in performance.”
The Company’s new strategy aims to achieve several key benchmarks: Total revenues to exceed Bt30 billion over the period; doubling of Company’s RoE to 30%, whilst maintain the Company’s Debt to Equity ratio of 1.5x. This is expected to be achieved through several initiatives – monetizing the Company’s completed residential and commercial inventory, re-alignment of the product mix to target growth segments, optimizing the current land bank and a relentless focus on pre-sales to build strong revenue pipeline.