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Profit Gains Likely to Narrow in 2004 for Thai Property Developers.
Byline: Nuntawun Polkuamdee
Aug. 5--Prospects for the property sector continue to look strong, albeit with profit growth moderating in 2004 to single-digit levels, according to local analysts.
Pongpan Apinyakul at Kim Eng Securities estimates net profits for nine listed developers this year at 9.62 billion baht, up 63 percent from 2002, with two of the strongest performers being Land & Houses and L.P.N. Development.
Profit growth in 2004 was expected at 7 percent to 10.32 billion, he said.
Low interest rates and a strong economy have helped boost sales.
Condominiums in Bangkok's central business district are expected to lead ...
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Source: HighBeam Research, Profit Gains Likely to Narrow in 2004 for Thai Property Developers.