PROPERTY :Amata Corp, the country's biggest industrial estate operator, reported that its third-quarter profit rose to the highest level in more than two years as it sold more land and earned higher rents after political stability encouraged foreign investment to return.
Net profit for the period to Sept 30 was 390.1 million baht (0.37 baht a share), up from 148 million baht (0.14 baht a share) a year earlier. Real estate sales rose 24% to 2.1 billion baht and rental income rose 8.3% to 162.5 million baht.
Amata said in July that sales may rise by 50% this year on revived interest in its properties. Its profit dropped in 2006 to a five-year low as foreign investment fell amid political turmoil that culminated in the coup in September.
Amata, which had earlier targeted selling 1,300 rai of land this year, sold 400 rai in the first six months.
Amata shares closed yesterday on the SET at 16.50 baht, up 10 satang, in trade worth 28.12 million baht. BLOOMBERG
Source: Bangkok Post
Thursday November 08, 2007