Lalin Property Public Company Limited announced its third-quarter results for 2022, reporting revenue of 1,504.7 million baht, a decrease of 7.4% compared to the same period last year. For the first nine months, revenue totaled 4,723.2 million baht, down 2.2% from the previous year. Nevertheless, 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 property developer under the concept of “A Home 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 0.25% to 1.25%. It is believed that this gradual increase will allow both businesses and the public to adapt. Thailand's tourism sector is gradually recovering 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, revenue was 1,504.7 million baht, a decrease of 7.4% due to construction delays caused by unusually heavy rainfall this year. For the first nine months, the company achieved revenue of 4,723.2 million baht, a slight decrease from 4,828.1 million baht in the same period last year, or a reduction 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% for the first nine months, higher than the market average of around 33%. Meanwhile, selling expenses increased by approximately 18.4 million baht due to marketing efforts for new project launches, with eight new projects launched in the first nine months and a total of 11 projects expected to be launched this 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%, higher than the market average of around 12-13%. For the final quarter of the year, the company remains confident that it will perform better than in the third quarter, and overall growth for the year will continue compared to the previous year.

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or visit https://www.lalinproperty.com/news/q3-65/