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Goodyear (Thailand) profit holds relatively steady YOY in Q4

Goodyear (Thailand) Public Company Ltd said its fourth-quarter normalized net income was 8.55 baht per share, compared with 8.55 baht per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 63.3 million baht, compared with 63.3 million baht in the prior-year period.

The normalized profit margin fell to 6.1% from 6.8% in the year-earlier period.

Total revenue increased 12.0% year over year to 1.03 billion baht from 923.9 million baht, and total operating expenses rose 9.9% on an annual basis to 932.9 million baht from 849.1 million baht.

Reported net income declined on an annual basis to 83.6 million baht, or 11.29 baht per share, from 84.4 million baht, or 11.41 baht per share.

For the year, the company's normalized net income totaled 40.87 baht per share, an increase of 62.2% from 25.19 baht per share in the prior year.

Normalized net income was 302.4 million baht, an increase of 62.2% from 186.4 million baht in the prior year.

Full-year total revenue grew from the prior-year period to 3.97 billion baht from 3.80 billion baht, and total operating expenses rose on an annual basis to 3.61 billion baht from 3.53 billion baht.

The company said reported net income grew 61.9% on an annual basis to 385.5 million baht, or 52.09 baht per share, in the full year, from 238.2 million baht, or 32.18 baht per share.

As of Feb. 26, US$1 was equivalent to 35.74 baht.