Central Pattana reports B7.1 billion profit in 2021

Central Pattana, a retail and property developer in Thailand, made 7.1 billion baht in net profit and received 28.9 billion baht in revenue in 2021, despite Covid-19 challenges.

CPN’s Chief Financial Officer described 2022 as another difficult year for the company since the pandemic has had a greater impact on customers’ lifestyles and numerous businesses than the previous year.

“The financial performance of 2021, although lower than the previous year, remained resilient and was within the company’s expectations.”

CPN set a record in 2021 with the launch of two new projects, Central Ayutthaya and Central Sri Racha, as well as the profitable takeover of retail operator Siam Future Development.

“Central Pattana carried out its best efforts with the utmost professionalism to adjust strategies to cope with various situations as well as cost-effective management implementation to minimise the impact on company performance.”

The company is currently working on new projects, such as Central Chanthaburi, which is slated to open to the public in the second quarter of this year.

SOURCE: Bangkok Post