Colombia Works <146A> announced its consolidated financial results for the third quarter of the fiscal year ending December 2024 (January-September 2024) on the 12th. Revenue saw a significant increase of 92.9% year-on-year, amounting to 16.837 billion yen. On the profit side, the gross profit margin improved by 1.7 points to 25.7% compared to the initial plan. Moreover, the increase rate of selling, general and administrative (SG&A) expenses was 53.0% year-on-year, which was below the revenue growth rate, indicating the continuation of an efficient management system. As a result, operating profit rose by 89.8% year-on-year to 3030 million yen, ordinary profit increased by 99.4% to 2.688 billion yen, and the quarterly net income attributable to the parent company's shareholders grew by 98.8% to 1.694 billion yen.

In the real estate industry to which the company group belongs, there are concerns about rising construction costs due to soaring construction material prices. However, it is expected that the demand for investments in domestic real estate by both domestic and overseas investors will improve, driven by rising rents mainly in residential properties and the depreciation of the yen. In this situation, the company group has been developing properties focused on residences with steady demand. In the cumulative period of the third quarter, the company invested in properties for sale amounting to 10.498 billion yen, including those planned for sale in the current period.

Regarding the full year for the fiscal year ending December 2024, an upward revision of the consolidated financial estimates announced on February 20 of this year was also made on the same day. The reason for the upward revision is due to the strategic run of solution-type purchasing and selling to minimize the decline in profitability caused by rising property development costs.

Revenue is expected to be 20.633 billion yen, reflecting a 42.6% increase year-on-year (up 2.7% from the previous estimate), operating profit is expected to be 3.882 billion yen, a 42.8% increase (up 28.3% from the same period), ordinary profit is projected to increase 42.6% year-on-year to 3.397 billion yen (up 28.8% from the same period), and net income attributable to the parent company's shareholders is anticipated to increase by 39.9% to 2.12 billion yen (up 17.6% from the same period).

Additionally, concerning the dividend forecast for the fiscal year ending December 2024, it was announced that the year-end dividend per share will be set at 110.00 yen due to the expected increase in net income as a result of the upward revision of the consolidated financial estimates. The company positions the continuous improvement of corporate value and the return of profits to shareholders through dividend payments as a significant management issue. Regarding the dividend amount, the basic policy is to maintain stable dividends with a payout ratio of 15% to 20%, while considering future business development and enhancing internal reserves to adapt to the surrounding management environment and earnings situation.