Bangkok--Aug 11--L.P.N. Development
L.P.N. Development Public Co., Ltd., its subsidiaries and joint companies had consolidated
income of Baht 770.15 million, a decrease from the same period of 2004 that had the consolidated
income of Baht 781.45 million or a decrease at 1.45 % changing slightly when compared with the previous
year. The Company had Net Profit of Baht 123.70 million, a decrease from the same period of 2004 that
had the Net Profit of Baht 154.18 or a decrease at 19.77%. The decrease in Net Profit resulted from
Year 2005, the company did not have remains of Tax Shield any more, and consequently disbursed Corporate
Income Tax. In case of considering the Company’s EBIT in 2nd Quarter of 2005 was Baht 201.56 million ,
an increase from the same period of 2004 having Baht 170.91 million or an increase at 17.93 % . This can
clearly illustrate enhanced efficiency in the Company’s management.
The efficiency in generating gross margin from sales rose from 34.19% in 2nd Quarter of 2004
to 38.32% in this period or an increase at 4.12% even though in the Company could control the Construction
Cost being in the Budget following the Company’s corporate strategy in “Cost Leadership Strategy” assigned
in the Year 2005.
The Company’s statement of cash flow as at 30 June 2005: cash ending was Baht 372.11 million,
a decrease from the same period of 2004’s of Baht 468.40 million or a decrease at 20.56 % .According the
cause from the Company received cash flow from increasing the registered Capital was Baht 493.65 million
in 2nd Quarter of 2005. The D/E ratio increased from 0.68: 1 as at 30 June 2004 to 0.85:1 as at 30 June
2005. However, when considering only on the interest debt, the D/E ratio would only be 0.54: 1 when
compared with 0.47 : 1 in the previous period.
All in all, the Company still has the projects to recognize income in the 3rd — 4th Quarter of
2005 which is Lumpini Ville Phahol — Suthisarn , two 21 floor buildings comprising 861 units, valuing of
Baht 1,400 million. It is expected the another new project will be launched valuing about Baht 1,000
million in the 4th Quarter of 2005.
Summarized Table
Item Consolidated 6 months 6 months %
Q2 05 Q2 04 % Change 2005 2004 Change
1. Total Income (Million Baht) 770.15 781.45 -1.45% 1,476.30 953.97 54.75%
2. Gross Margin (G/P) from Sales (%) 38.32% 34.19% 4.12% 37.21% 34.85% 2.36%
3. G/P from Rent & Services (%) 30.56% 4.65% 25.90% 24.54% 26.35% -1.81%
4. G/P from Management Fee (%) 51.61% 44.62% 6.99% 59.27% 50.84% 8.43%
5. G/P from Rent & Services and Management Fee (Million Baht) 294.98 264.7 11.44% 558.11 333.54 67.33%
6. G/P from Rent & Services and Management Fee (%) 38.70% 34.29% 4.42% 38.08% 35.50% 2.58%
7. E.B.I.T. (Million Baht) 201.56 170.91 17.93% 377.85 192.79 95.99%
8. E.B.I.T. (%) 26.17% 21.87% 4.30% 25.59% 20.21% 5.38%
9. Net Profit (Million Baht) 123.7 154.18 -19.77% 232.64 171.52 35.63%
10. Net Profit (%) 16.06% 19.73% -3.67% 15.76% 17.98% -2.22%
11. Earning per share (Baht) 0.09 0.16 -42.14% 0.178 0.18 -1.02%
12. Book value per share (Baht) 1.85 2.12 -12.74% 1.87 2.12 -11.79% End.