Lower Sales Revenue in Real Estate Plunges LPN’s 3Q21 Earnings by 74%
LPN reported a net profit of 26.46 million baht in 3Q21, decreased 74.20% YoY, due to the decline of the income from sales of real estate.
L.P.N. Development Public Company Limited (LPN) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
LPN reported a net profit of 26.46 million baht in 3Q21, decreased 74.20% from a net profit of 102.53% in 3Q20. The decrease was due to the decline of the income from sales of real estate i.e. residential condominiums and single houses of 22.26% and 11.22%, respectively.
At the same time, the income from rental, service and management businesses increased 6.39% from the same period of the previous year. The sales and management expenses decreased 2.83% and 3.18% from the same period of the previous year respectively as a consequence of the increased efficiency in expenses and operational costs management and control.
