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Sub Sri Thai Q3 loss narrows YOY

Sub Sri Thai Public Company Ltd said its normalized net income for the third quarter was a loss of 2 satang per share, compared with a loss of 4 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 8.6 million baht, compared with a loss of 17.2 million baht in the prior-year period.

The normalized profit margin rose to negative 1.1% from negative 2.5% in the year-earlier period.

Total revenue increased 15.6% on an annual basis to 784.5 million baht from 678.4 million baht, and total operating expenses grew 16.6% on an annual basis to 784.1 million baht from 672.3 million baht.

Reported net income totaled a loss of 18.0 million baht, or a loss of 4 satang per share, compared to income of 402.9 million baht, or 88 satang per share, in the prior-year period.

As of Nov. 16, US$1 was equivalent to 35.96 baht.