LPN posts brisk sales in 'vibrant community'
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LPN DEVELOPMENT has sold 2,000 units worth Bt1.5 billion |in Lumpini Township Rangsit-Khlong 1 after its launch in |the beginning of the fourth |quarter.
In a filing to the Stock Exchange of Thailand, the company said the 100-rai project – it’s biggest in 24 years – will be the model of a “vibrant community”.
“The vibrant community strategy is key to the development of the project as well as the company’s policy on affordable housing. The company is confident that it will be able to achieve the targeted sales volume and recognised income,” it said.
LPN showed an increase in |the third quarter and nine-month net profits, despite a drop in sales volume in the first three quarters.
However, sales volume in the third quarter rose with no new projects having been launched. The accumulated sales volume during the first nine months of 2013 dipped from the same period last year, from Bt18.79 billion to Bt18.57 billion.
The company, nevertheless, managed to post a 13.29-per-cent increase in consolidated quarterly net profit, from Bt542 million to Bt614 million. Meanwhile, its nine-month net profit rose 80 per cent from Bt985 million to Bt1.77 billion.
Managing director Opas Sripayak said sales in the third quarter rose as the company managed to transfer complete units to clients and lower the backlog.
