LH Records THB1.3 Billion Profit in 3Q21, Down 36% Due to 1-Month Worker Camp Shutdown

Land and Houses Public Company Limited (LH) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

In the third quarter of 2021, LH recorded the net profit in the amount of 1,307.61 million baht while the same period last year recorded the net profit in the amount of 2,049.09 million baht, decreased of 741.48 million baht or 36.19%, as the company recorded sales income of 6,520.32 million baht compared to sales income of 7,616.76 million baht in the same period of last year, decreasing 1,096.44 million baht or 14.40%. This was effect from the government’s measure to contain the COVID-19 which announced to shut construction sites and seal off worker camps for a month. Meanwhile, gross profit margin was 32.06%, decreased by 0.71% as a result of the higher competition of sales and effects of the COVID-19 pandemic situation.

For the period of nine months ended 30 September 2021, LH recorded the net profit in the amount of 4,921.55 million baht while the same period last year recorded the net profit in the amount of 4,788.01 million baht, increase of 133.54 million baht or increase by 2.79%. This was from sales income of 22,125.58 million baht while the same period last year LH recorded sales income of 19,895.26 million baht, an increase of 2,230.32 million baht or 11.21%.