Land and Houses Public Company Limited (LH) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;
For the year ended 31 December 2020, LH recorded a net profit of 7,144.92 million baht, a decrease of 2,880.00 million baht or 28.73% because of a lower profit record from property selling despite sales income rose nearly 10% YoY.
In 2020, LH’s sales income was 27,481.22 million baht while the same period last year was 25,151.37 million baht, an increase of 2,329.85 million baht or 9.26%. Gross profit margin was 31.71% compared to a gross profit margin of 32.43% in 2019, decreased by 0.72%. The increase in sales and slight decrease in gross margin made an increase of 557.63 million baht in gross profit.
Also, in 2020 LH sold a property in USA at selling price of 2,373.00 million baht and recorded the profit before tax in an amount of 405.28 million baht, while the year of 2019, LH sold the Grand Centerpoint Sukhumvit 55 Hotel as a selling price of 4,155 million baht and recorded the profit before tax in an amount of 2,418.31 million baht.
In addition, the Board of Directors of LH approved a dividend payment of ฿0.30/share to be paid on May 21, 2021. The ex-dividend date is May 6, 2021.