Bangkok--Aug 10--Siam PR. Consultant
Lalin Property displays superiority by paying a dividend of 0.15 baht share, along with 21 % growth in income realization
Lalin Property PLC, the leading property development company reports performance during the first half of 2005 with income realization from sales worth 1.305 billion baht and a net profit of 334 million baht or net earning per share of 0.41 baht. The net profit grew18 % against that of the same period a year ago, with the 15% growth in the sale volume. During the first quarter of 2005, income realization was equivalent to 593 million baht with net profit of 149.2 million baht and net earning per share of 0.18 baht, while in the second quarter, the company recorded income realization and net profit at 717 million baht and 185 million baht respectively, with net earning per share of 0.23 baht, which is 21 .% higher than that in the first quarter, and paying a dividend of 0.15 baht a share, representing 6%++ of stake’s present value. The company is preparing to rise to the front line of companies listed on the Stock Exchange of Thailand (SET).
Chief executive Chaiyan Chakarakul disclosed that despite the sluggish economy during the first half of 2005, given the rising oil prices, slow growing economy and lower public spending, the overall picture of the country’s property sector remained positive with 10-15% growth expected. “The number of homes completely built with Bangkok and its vicinity during January-May 2005 is equal to 27,220 units as according to the house registration records. The number of homes, which are part of housing projects increased 20% over that of the same period last year to 14,848 units. The pressure on the part of current purchasing power, market demand and higher production costs also contributed the tough decision making on the part of homebuyers. Property developers now deploy strategy involving adjustment in designs, styles, sizes, pricing, locations and materials in order to attract target buyers. Various business sectors including the property sector should be looking into making adjustment in accordance with the changing economy. However, one thing is certain, property operators will be more careful with how they do business,” he said.
“Lalin Property PLC has determined its strategy in accordance with the business climate and company’s expertise and experience in building quality middle-class homes. We are confident that our strength, expertise, stability and proper strategy will contribute significantly to better product determination and greater competitive advantages,” he explained.
The company continues to move forward with success as it has scheduled to launch 3 new housing projects worth 3.25 billion baht in combined value in the first and third quarter of 2005 following the plan set earlier in the year. The new projects for this year are as follows:
1. Burirom Outer Ring Road — Pinklao (1.3 billion baht) first quarter
2. Burirom Rama II — Ekkachai (1.25 billion baht) first quarter
3. Baan Burirom Srinakarin-Outer Ring Road-Suwannabhumi-Theparak
(700 million baht) third quarter
Presently, the company has 18 projects in 5 key zones within Bangkok and its vicinity to allow homebuyers to select quality homes that suit their needs at reasonable prices.
For more information please contact:
Lalin Property PLC
Jidapa Pramualsub, Supaporn Ondee
Siam PR. Consultant Co., Ltd.
Tel.0-2693-7835-8 ext 32,34, 0-1817-7153
Fax. 0-2693-6919-20
E-mail: [email protected]
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