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Thai real estate development firm posts 8 percent increase in quarterly profit.
Sep. 1--M.K. Real Estate Development Plc (MK) posted a net profit of 96.5 million baht for the second quarter of this year, up 8 percent over the same period last year and six times higher than the 13.27 million baht reported in the first quarter.
The company's net profit for the second quarter was much below realised income due to rising operating costs such as the increases in property tax and transfer fees to 4.3 percent from 0.11 percent after the government's incentives expired late last year. Promotional costs were also higher in line with the increase in new units, president Chuan Tangmatitham said in a statement.
The listed developer's realised ...
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Source: HighBeam Research, Thai real estate development firm posts 8 percent increase in...