Bangkok--May 12--Siam PR. Consultant
Lalin reports impressive performance with sales jumping 27%
Net profit also increases 38 %
Lalin Property Public Company Limited, leading developer of medium-scale homes, reports that its first quarter performance has been beyond target with net profit worth 149.18 million baht, up over 38 % over that of the same quarter in 2004. Total income realization valued at 593.7 million baht, up 27 % over that of 2004. The company continues to set high annual growth target at 15-20% for 2005.
Chaiyan Chakarakul, CEO of Lalin Property Public Company Limited, disclosed that the company’s sales at the end of the first quarter of 2005 had reflected the actual demand for home, which remained increasingly stable in accordance with the overall picture of Thailand’s property sector. The property information center has revealed that registration of single-detached houses for areas within Bangkok and its vicinity increases 21% against that of the previous year. House registration is predicted to continue growing at 10-15%.
“With regard to the housing development industry, risks remained visible with market irregularity and uncertainty such as the fluctuation of oil prices and interest rates. However, its impact may only stall home buying decisions on the part of homebuyers. Sales as well as number of people visiting the project continue to remain very high. The situation has prompted new operators with limited funding to review their investments, relieving the concerns of the market being over supplied. The year 2005 is a year of consolidation, where the government sector is paying more attention to the promotion of the housing development industry,” he said. “Other involvements by the government beneficial to the industry include expansion of transport network, promotion of export and tourism and implementation of stimulation measures. The move to extend contract duration for loan from fixed interest rates for 3 and 5 years to stable low rates for 7-10 years by the Government Housing Bank will be supportive to the growing of the country’s property sector and its overall economy,” he added.
“As for Lalin Property Public Company Limited, the management realizes there are factors influencing the investment climates, which could be considerable degree of risks. The management therefore is trying to keep various factors of emerging risks under control, including those in the area of marketing, construction and financial risks. The company has been paying attention to product
development by means of building houses to meet existing demands. The company’s research department is confident that its product positioning is in the right direction,” he said.
In 2005, Lalin Property PLC has targeted to grow at least 15-20% with 4 projects being developed to cater to the needs in 5 major areas of Bangkok and its vicinity worth 4.4 billion baht. Of these 4 projects, 5 have been launched in the first quarter with combined project value of 2.55 billion baht. The remaining 2 projects are scheduled for launch in the third quarter of this year and expected to be well embraced by homebuyers the same way as the previous 2 projects. “The performance of Lalin Property PLC will be better than last year’s,” he concluded.
For more information please contact:
Marketing & PR Department Jidapa, Wannaree
Lalin Property PLC Siam PR. Consultant Co., Ltd.
Tel. 0-2732-1041-5 Tel. 0-2693-7835-8 ext 32,34, 0-1817-7153
Fax. 0-2377-9656 Fax. 0-2276-8552
E-mail : marketing@lalinproperty.com E-mail: [email protected] End.