Most listed property developers have posted disappointing second-quarter earnings in a sign that consumers have delayed their home-buying decisions amid the economic slowdown and political uncertainty. KC Property's second-quarter net profit slumped almost 74 per cent from Bt43.27 million last year to Bt11.26 million on a 39.56-per-cent decline in sales. Asian Property was in the same camp as Lalin Property and KC Housing. Its quarterly net profit tumbled 58.13 per cent, from Bt234.35 million to Bt98.12 million.
A 19.6-per-cent fall in revenues and an increase in selling and administrative expenses as a percentage of revenues from 12.1 per cent in the second quarter of 2006 to 18.1 per cent, were blamed for the smaller net profit.
