LPN Reports 17% Growth in Profit at ฿350M. from Income Recognition of Projects
LPN recorded THB 350 million of profit in 1Q19 mainly due to the income recognition from ready-to-move-in project and one completed project in 1Q projects.
L.P.N. Development Public Company Limited (LPN) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:
The net profit of LPN was THB 350 million, increased 17.31% YoY, mainly due to the income recognition from ready-to-move-in projects and recognition of one project completed in Q1/2019. The gross profit from sales increased 4.39% from the same quarter of the previous year.
In 2019, LPN aims to launch new projects worth THB 20,000 million i.e. residential condominiums valuing THB 12,000 million and single house project valuing THB 8,000 million. The combined sales volume target is set at THB 16,500 million.
