Low Income from Sales Drops LPN’s 3Q19 Profit by 60% to ฿115mn

L.P.N. Development Public Company Limited (LPN) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The net profit of LPN in 3Q19 decreased by 60.45% from the same quarter of the previous year to record at 115 million baht. The decrease was because the income from sales decreased by 45.81% since there were no new projects completed in this quarter.

However, the gross profit from sale increased 1.60%. At the same time, the income from rental property business and service and management service business increased 24.96% and 11.53% respectively from the same quarter of the previous year as a result of the expansion of rental property business at Lumpini Township Rangsit – Klong 1 project and management services provided to other companies