Central Pattana Achieves B4.12 Billion Profit in Q3 2024
Strategic Expansion and Tourism Recovery Drive Earnings
Central Pattana Plc (CPN) announced a net profit of 4.12 billion baht for the third quarter of 2024, with total revenues reaching 12.3 billion baht.
According to Naparat Sriwanvit, Chief Financial Officer and Senior Executive VP for Finance, Accounting, and Risk Management, this robust performance was fueled by strong private sector consumption, a rebound in tourism, and ongoing mixed-use developments.
Key contributors included increased leasable space and occupancy rates at Central Westville, Nakhon Sawan, and Nakhon Pathom, along with enhanced tenant revenues and a boost in hotel business performance.
New projects launched in this period include the Hilton Garden Inn Rayong and two condo developments, Escent Hatyai II and Escent Phuket.
CPN also plans to introduce Market Place Theprak in northern Bangkok, a community mall and urban market.
The company operates 42 shopping centres and 15 community malls with a net leasable area of 2.3 million square meters, alongside 37 food courts, 10 office buildings, 10 hotels, and 39 residential projects.
Looking ahead, CPN aims to foster sustainable growth, gearing up for major New Year celebrations in 2025 with 'The World's Great Celebration 2025' campaign to boost the Thai economy and tourism.