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Asian Seafoods Coldstorage Q2 profit falls YOY

Asian Seafoods Coldstorage Public Co. Ltd said its normalized net income for the second quarter was 1 satang per share, a decline of 62.1% from 3 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.4 million baht, a decrease of 62.1% from 14.3 million baht in the prior-year period.

The normalized profit margin declined to 0.3% from 0.9% in the year-earlier period.

Total revenue climbed 18.8% year over year to 2.00 billion baht from 1.68 billion baht, and total operating expenses increased 20.6% from the prior-year period to 1.95 billion baht from 1.62 billion baht.

Reported net income decreased 48.8% from the prior-year period to 9.3 million baht, or 2 satang per share, from 18.1 million baht, or 3 satang per share.

As of Aug. 10, US$1 was equivalent to 34.75 baht.