LPN reveals 20-year profit reduced to 716.34 million baht, fluctuating year-on-year after COVID-19 dragged revenues and sales fell. Announcing the Crisis Plan Both adjust the sales target Income in accordance with the crisis Marketing plan to boost purchasing power As well as reduce costs Liquidity enhancement Manage to have cash flow to support business operations for at least 6 months and postpone construction plans for some projects. However, the second half of the year 20 dividend is 0.40 baht / share up XD 24 Feb.
L.P.N. Development Public Company Limited or LPN reported operating results for the year 2020 with a net profit of 716.34 million baht, down 42.97% from the year 2019 with a net profit of 1,256 million baht. Gross sales were 28.62%, down from 31.70% in 2019.
Clarify revenue contraction From the COVID situation
Opas Sripayak, Chief Executive Officer and Managing Director of LPN, said the company saw a 31.16% drop in sales revenue to 6,001 million baht due to the COVID-19 situation. That continued from the beginning of the year 63. Services increased 30.16% from the same period last year to 225.19 million baht, resulting from an increase in rental income of Lumpini Township Rangsit Klong 1 (Phase 3) and administrative income increased 6.82. % Is at 1,136.8 million baht due to an increase in external project management.
In the year 2020, total sales of 10,400 million baht, with 8 new projects launched, total project value of approximately 8,500 million baht, divided into 5 residential condominium projects, project value approximately 5,500 million baht and 3 residential projects, total project value of approximately 3,000 million baht, 9 projects completed, 4 residential condominium projects and 5 residential projects, with a total backlog of 2,200 million baht, gradually delivered in the year 64-65.
The company had selling and administrative expenses of 1,391.24 million baht, decreased in line with lower sales revenue.
Make a crisis plan Both adjust the sales target – income
Mr Opas said the year 2020 was a period of disruption in most of the country’s economic activities. Much of this was the result of the coronavirus outbreak, which the company adjusted its operations to be in line with the situation. Make a crisis plan Whether it is adjusting sales target Income in accordance with the crisis Marketing plan to boost purchasing power and develop online sales strategy to increase sales.
Including adjusting plans for launching new projects Cost reduction plan Increase regular income from apartments sold as apartments for rent. Moreover, the liquidity enhancement plan Adapt and review in various areas In accordance with the situation in which the above plan works better than the target set.
“By 2020, most of the country’s economies will be halted. Board of Directors And the management of the company has made adjustments to both the sales target. Consistent income Including adjusting plans for launching new projects Increase target groups of large investors It also has a liquidity plan. By managing to have cash flow, able to support business operations for at least 6 months, reduce unnecessary expenses. Postponing some construction plans to reduce the burden of some construction costs, ”said Opas.
However, it continues to accelerate the construction of projects with purchase amounts to complete the project. And deliver to customers on time Including the company has adjusted and reviewed in various fields. In accordance with such situations And has an operating guideline to the community and others Related The aforementioned plan works better than the target set. In addition, the Stock Exchange of Thailand has listed the company as a showcase in 2020 on how to deal with the COVID 19 situation well
The company is also successful in the residential segment. Causing new high sales in 5 years
Going forward with dividends year 63, 1.40 baht per share
In addition, the meeting of the Board of Directors also approved the dividend payment from the year 20 performance at a rate of 1.40 baht per share, in which the Company paid an interim dividend at the rate of 1.00 baht per share on June 19, 2020, so the rest will be paid. At the rate of 0.40 baht per share, the date of not receiving the right of dividend (XD) date 24 Feb. 64 and payment date 8 Apr. 64.
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