Tainan-based Prince Housing and Development Corp (太子建設) is looking at earnings growth this year due to unrecognized sales and profits of about NT$6 billion (US$205.42 million), the company told an investors’ conference on Wednesday.
The rosy outlook, if realized, would beat last year’s net income, which soared nearly twofold from 2020 to a five-year high of NT$1.53 billion, or earnings of NT$0.95 per share.
The company’s board approved a proposed cash dividend of NT$0.5 per share, pending shareholders’ approval at a meeting on June 17.
Prince Housing and Development stands to benefit from a new housing project in New Taipei City’s Linkou District (林口) and two new projects in Kaohsiung: one in Renwu District (仁武) and another in Nanzih District (楠梓).
The three complexes might generate sales of NT$2.5 billion, NT$2.04 billion and NT$2.48 billion respectively, it said.
The firm has obtained use licenses for the Linkou complex and expects to obtain the use licenses for the complex in Kaohsiung’s Renwu later this month, meaning that they could contribute revenue.
The Nanzih complex, which has been completed, is 55 percent sold, leaving room for an extra NT$2.48 billion in sales, it said, adding that sales at the complexes are key to the company’s profitability this year.
Overall sales could reach NT$13.32 billion this year after factoring in unsold houses at various locations in Taiwan, it said.
Its investment in affiliated hotels might be recovering from the COVID-19 pandemic given the figures from the first quarter, Prince Housing and Development said.
The company is the property owner of W Hotel in Taipei’s Xinyi District (信義) and Hotel Resonance Taipei (台北時代寓所) in Zhongzheng District (中正).
The two facilities are targeting fashionable and tech-savvy business and leisure travelers from Taiwan and abroad.
While maintaining border controls, Taiwan has eased quarantine and social-distancing requirements, as the number of infections from the Omicron variant of SARS-CoV-2 are spiking, but more than 99 percent of the cases display mild or no COVID-19 symptoms.
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