Bangkok--May 16--L.P.N. Development
L.P.N. Development Public Co., Ltd., its subsidiaries and joint company had consolidated income of Baht 708.91 million, an increase from the same period of 2004 that had the consolidated income of Baht 172.86 million or an increase at 310.11 %. The increase in consolidated income resulted from the Company’s efficiency in transferring the ownershipright on Lumpini Center Sukhumvit 77 was 619 units or 70% of total units. This reason affected the Company’s E.B.I.T. in 1st Quarter of 2005 was Baht 176.29 million , a decrease from the same period of 2004 having Baht 21.89 million is amounting Baht 154.40 million or a decrease at 705.34 % and the net profit increased at 528.26% when comparing with the same period of the previous year’s net profit.
The efficiency in generating gross margin from sales, which is the core business of the Company, still maintained the criteria of gross margin from sales over 35 % in 1st Quarter of 2005 even though normally in the Company’s product category “ Lumpini Center ” had the gross margin from sales only 31-33%. This was a consequence of a applying the Company’s corporate strategy in “Cost Leadership” seriously of the Company.
The Company’s statement of cash flow at the end of the 1st Quarter of 2005: cash ending was Baht 525.43 million, an increase from the same period of 2004’s of Baht 109.22 million or an increase at 381.07 % according the cause from increasing transfer the ownership right together with transforming Warrant. The increase in the registered Capital was Baht 126.52 million. The D/E ratio decreased from 0.87 : 1 in Q1 of 2004 to 0.77 : 1 in Q1 of 2005.However, when considering only on the interest debt, the D/E ratio would only be 0.55 : 1
Summarized Table
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Item
Consolidated The Company Only
1Q 05 1Q 04 % Change 1Q 05 1Q 04 % Change
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1. Total Income (Million Baht)
708.91 172.86 310.11% 698.18 160.81 334.16%
2. Gross Margin from Sales (%)
35.18% 38.34% (2.36%) 34.33% 34.72% (0.39%)
3. Gross Margin from Rent & Services (%)
17.74% 47.21% (29.47%) 18.28% 47.00% (28.72%)
4. Gross Margin from Management Expenses (%)
64.38% 56.86% 7.52% - - -
5. Gross Margin from Rent & Services and Management Expenses (Million Baht)
263.12 68.85 282.16% 227.41 51.18 344.33%
6. Gross Margin from Rent & Services and Management Expenses (%)
37.41% 41.10% (3.69%) 34.20% 35.19% (0.99%)
7. Profit (Loss) before Interest Expenses and Income Tax (Million Baht)
176.29 21.89 705.34% 164.63 17.49 841.28%
8. Profit (Loss) before Interest Expenses and Income Tax (%)
24.87% 12.66% 12.21% 23.58% 10.88% 12.70%
9. Net Profit (Million Baht)
108.94 17.34 528.26% 108.94 17.34 528.26%
10. Net Profit (%)
15.37% 10.03% 5.34% 15.60% 10.78% 4.82%
11. Earning per share (Baht)
0.08 0.02 300.00% 0.08 0.02 300.00%
12. Book value per share (Baht)
1.91 1.72 11.05% 1.91 1.73 10.40% End.