LH’s 3Q Profit Falls 7% to ฿2.05Bn due to Lower Gross Margin-Higher Competition

Land and Houses Public Company Limited (LH) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

In the third quarter of 2020, LH recorded the net profit in the amount of 2,049.09 million baht, decreased 152.30 million baht or 6.92% YoY because of share of profit from investment in associates decreased by 134.45 million baht resulted from the Covid-19 pandemic situation.

 

LH recorded sales income in the amount of 7,616.76 million baht, increased 1,269.69 million baht or increased by 20.00% YoY. While gross profit margin was 32.77%, decreased by 0.27% as a result of the higher competition and Covid-19 pandemic situation.