MMM expands property sales and lending, profit up 11%
New sales contracts boost revenue MMM won sales management rights for several projects, including a 51-million-baht twin-home project, an 80.5-million-baht BLESS project, and a 140-million-baht KLOS Ratchada 7 condo. These deals add to its sales pipeline and support revenue growth in the second half.
These new contracts directly increase MMM's sales management business, a key revenue driver.
Strong first-half profit and dividend MMM reported an 11% rise in first-half net profit to 70 million baht, with revenue up 31%. It also paid an interim dividend of 0.06 baht per share, showing healthy cash flow and shareholder returns.
Profit growth and dividend demonstrate financial health and support investor confidence.
Lending business to generate recurring income MMM is expanding into property lending through subsidiaries, targeting a 700-million-baht loan portfolio by 2028. This new business aims to create steady interest income and reduce reliance on volatile sales revenue.
The lending strategy diversifies revenue and could lead to more stable earnings long-term.
New partnerships and self-developed projects MMM is partnering with more developers and plans to self-develop low-rise condos, targeting 30-40% growth this year. It aims for 800 units from 30-40 projects, with sales expected to peak in the fourth quarter.
Expanding partnerships and self-development signal future growth and higher profit margins.