Quality Houses 2Q09 earnings have increased 10% yoy and 62% qoq to Bt474mn and are much better than our expectation. This is due to strong housing sales and higher equity income. Revenue from housing sales rose 3% yoy and 41% qoq to Bt2.72bn, driven by the economic recovery and a lower new housing supply. Meanwhile, the blended gross margin widened slightly to 30.0%. Equity income grew 25% yoy and 8% qoq to Bt105mn, coming mainly from strong earnings of HMPRO and LH bank.
Quality Houses reports qutstanding growth for 2Q 2009
The Thaivest Editorial Team is a dedicated group of writers and editors with a passion for Thailand's vibrant economy, culture, and lifestyle. With diverse backgrounds in finance, economics, and journalism, we provide valuable insights into living well in Thailand, making money online, and practical tools for navigating its dynamic market. Our mission is to keep our readers informed about the latest developments, opportunities, and challenges in Thailand's economic and cultural landscape. Stay connected with Thaivest for reliable, well-rounded coverage of all things Thai.
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