May 15, 2015 / 5:13 AM / 2 years ago

Thailand's Pruksa expects record net profit in 2015 on strong sales

BANGKOK, May 15 (Reuters) - Thailand’s Pruksa Real Estate Pcl said on Friday it expected a record net profit this year due to strong sales of housing products and recovery in the property sector.

Pruksa, the country’s second-largest property developer, is on track to achieve a sales target of 47 billion baht ($1.40 billion) in 2015 after housing sales of 12.8 billion baht in the first quarter, Vice-Chairman Lersak Chuladesa told reporters.

The property market is expected to grow 10 percent this year with a strong rise of 13 percent in the first quarter, recovering from a slowdown last year, Lersak said. ($1 = 33.5800 baht) (Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Prateek Chatterjee)

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