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Growth of land sales helps outlook.

Bangkok Post (Bangkok, Thailand)

| April 04, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Mark Fein

Apr. 4--Rojana Industrial Park's (ROJANA) 2004 performance was impressive to say the least, and analysts foresee an even brighter outlook ahead on the back of continuing strong demand for industrial estate land, recurring income, sales of its condominium project and a huge unrealised gain from its holding of Ticon Industrial Connection.

Rojana reported 38 percent growth in net earnings for 2004 to 517 million baht on a 35 percent rise in revenue totalling 3.99 billion baht. Factors given for the result were a 121 percent rise in sales of industrial estate land from 2003, 20 percent growth in sales of electricity and a widening of the gross margin from 27 percent in 2003 to 30 percent.

Tisco Securities reiterated its buy call on the stock with a target ...

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Source: HighBeam Research, Growth of land sales helps outlook.