Land and Houses Freehold and Leasehold Property Fund Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 16, 2023 at 04:39 pm EDT
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Land and Houses Freehold and Leasehold Property Fund reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was THB 78.57 million compared to THB 64.54 million a year ago. Revenue was THB 79.69 million compared to THB 68.01 million a year ago. Net income was THB 58.35 million compared to THB 113.7 million a year ago.
For the six months, sales was THB 157.01 million compared to THB 122.82 million a year ago. Revenue was THB 159.47 million compared to THB 126.45 million a year ago. Net income was THB 93.19 million compared to THB 142.89 million a year ago.
Land and Houses Freehold and Leasehold Property Fund (the Fund) is a Thailand-based closed-end specific property fund. The Fund is principally engaged in the rental of immovable properties. Its objective is to raise funds from the general investors for utilizing the proceeds to purchase and/or lease immovable properties and/or accept the transfer of leasehold rights to immovable properties and/or the transfer of sub-leasehold rights to immovable properties, and to seek benefit from such immovable properties, whether in the form of granting of leases, sub-leases and/or any other form for the benefit of the properties invested in or possessed by the Fund. It improves, changes, develops and/or disposes of the properties for the purpose of generating income and returns for the Fund and the unitholders, including investment in other properties and/or other securities and/or seeking other gains by any other means. The Fund is managed by Land and Houses Fund Management Company Limited.