LH’s 2Q Profit Drops 25% as Covid-19 Disrupts Hotel Operation, Offering Dividend at ฿0.2

Land and Houses Public Company Limited (LH) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

In the second quarter of 2020, LH recorded the net profit in the amount of 1,394.93 million baht while the same period last year recorded the net profit in the amount of 1,852.38 million baht, decreased of 457.45 million baht or 24.70%, mainly because of the decrease in gross profit and share of profit from investment in associates, as the result of the Covid-19 pandemic situation which causes a temporary closure of the hotel service.

 

The sales income in 2Q20 was 7,230.22 million baht compared to the same period last year which increased to 691.19 million baht or increased by 10.57%. While reporting gross profit margin of 31.00%, decreased by 0.94% YoY as a result of the higher competition and Covid-19 outbreak situation.

 

In addition, the Board of Directors approved a dividend payment of ฿0.20/share to be paid on September 11, 2020. The ex-dividend date will be on August 27, 2020.