Thaifoods Group Public Company Ltd said its fourth-quarter normalized net income was 3 satang per share, compared with a loss of 3 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 157.7 million baht, compared with a loss of 175.7 million baht in the year-earlier period.

The normalized profit margin climbed to 2.8% from negative 4.1% in the year-earlier period.

Total revenue increased 29.4% year over year to 5.60 billion baht from 4.33 billion baht, and total operating expenses rose 13.9% year over year to 5.26 billion baht from 4.62 billion baht.

Reported net income totaled 21.6 million baht, or 0 satang per share, compared to a loss of 374.8 million baht, or a loss of 7 satang per share, in the year-earlier period.

For the year, the company's normalized net income totaled 18 satang per share, compared with a loss of 26 satang per share in the prior year.

Normalized net income was 960.6 million baht, compared with a loss of 1.12 billion baht in the prior year.

Full-year total revenue rose 18.9% on an annual basis to 20.67 billion baht from 17.39 billion baht, and total operating expenses totaled 18.95 billion baht, compared with 19.01 billion baht in the year-earlier period.

The company said reported net income totaled 1.44 billion baht, or 27 satang per share, in the full year, compared with a loss of 1.57 billion baht, or a loss of 37 satang per share, the prior year.

As of Feb. 24, US$1 was equivalent to 34.87 baht.