ORN's foreign-buyer demand, recurring income, and strong Q2 profit drive growth
Foreign demand fuels Chiang Mai property growth Foreign buyers, especially from China, Myanmar, and Russia, are driving strong demand for ORN's Chiang Mai projects. This boosts presales and down payments, supporting revenue and profit growth.
This explains the core demand driver behind ORN's recent strong performance and future growth.
Q2 profit surges 139.8% on high down payments ORN's Q2 net profit jumped 139.8% to 60.07 million baht, with revenue up 69.3%. High down payments from foreign buyers reduce mortgage risk and boost cash flow, strengthening the company's financial position.
This is a key new financial result that directly shows ORN's improved profitability and supports its stock price.
Recurring income from school and malls expands Mill Hill International School's enrollment surged to 176 students, and ORN is investing 290 million baht in The Backyard Phuket community mall. These recurring income streams add stability and long-term earnings.
This highlights ORN's strategic shift to recurring income, which can smooth earnings and attract investors.
Strong backlog and new project launches support growth ORN has a backlog of 4.262 billion baht and is launching new projects like The Astra Infinite condo, with presales exceeding 60%. This provides revenue visibility and supports future growth.
This shows ORN's pipeline and demand for its products, which are key drivers for future revenue.