Lalin Property Public Company Limited announced its financial results for the third quarter of 2022, reporting revenue of 1,504.7 million baht, a decrease of 7.4% compared to the same period last year. Meanwhile, the revenue for the first nine months stands at 4,723.2 million baht, down 2.2% from the previous year. However, the company remains confident that it can achieve overall growth for the year compared to the previous year.

Mr. Churachart Chakrakul, Managing Director of Lalin Property Public Company Limited, a real estate developer under the concept of “Homes Built on Good Intentions,” discussed the overall business operations, stating that this year has presented continuous challenges since the beginning, including impacts from geopolitical issues, rising commodity prices, and global inflation, which have led many countries to increase interest rates, raising the risk of recession in several nations. In Thailand, it is expected that by the end of November, the Bank of Thailand will likely raise the policy interest rate by another 0.25% to 1.25%. It is believed that this gradual adjustment will allow both businesses and the public to adapt. Thailand's tourism sector is beginning to recover following the reopening of the country, with expectations that the number of international tourists will exceed 10 million this year and could reach 20 million in 2023. This tourism sector will be a driving force for Thailand's economic growth this year and into next year. For the real estate sector, the measures to reduce transfer fees and mortgage registration fees to 0.01% will end on December 31, 2022, which may lead to a rush in property transfers to take advantage of these benefits by the end of this year.

In terms of the company's performance, for the third quarter, the revenue was 1,504.7 million baht, a decrease of 7.4%, attributed to construction delays due to the unusually heavy rainfall this year. For the first nine months, the company achieved revenue of 4,723.2 million baht, slightly down from 4,828.1 million baht in the same period last year, representing a decrease of about 2.2%. In terms of cost management, the company continues to perform better than the industry average, with a gross profit margin of 39.1%, higher than the market average of around 33%. The selling expenses for the first nine months increased by approximately 18.4 million baht due to marketing efforts for new project launches, with eight new projects opened in the first nine months and a total of 11 projects expected to be launched by the end of the year, valued at over 8,500 million baht. During this period, the company reported a net profit of 965.4 million baht, resulting in a net profit margin of 20.4%, which is higher than the market average of around 12-13%. For the final quarter of the year, the company remains confident that it will achieve better results than in the third quarter and that overall growth will continue compared to the previous year.

For inquiries and more information about Lalin Property, please contact the Call Center at 1778 or visit https://www.lalinproperty.com/news/q3-65/.