INBrief: Good quarter for L.P.N.

PROPERTY :L.P.N. Development Plc said it realised 1.21 billion baht in consolidated revenue in the third quarter, up 60% year-on-year, due in part to higher-than-expected transfers of units at its 1.7-billion-baht Lumpini Place Phahon-Saphan Kwai condominium.

Managing director Opas Sripayak said the company recorded 360 million baht in net profit, up 61% year-on-year. It had 560 million baht in cash in hand, up 102%, helped by 180 million baht in debt repayments.

In the fourth quarter, he said, L.P.N. expected to transfer units from its new Lumpini Pin Klao 2 condominium with 651 units worth 1.2 billion baht.

LPN shares closed on Friday at 8.25 baht, up 10 satang.

Source: Bangkok Post
Monday November 12, 2007