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New Plus Knitting Q2 profit climbs 20.2% YOY

New Plus Knitting Public Company Ltd said its second-quarter normalized net income came to 77 satang per share, a gain of 20.2% from 64 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 7.7 million baht, an increase of 20.2% from 6.4 million baht in the year-earlier period.

The normalized profit margin rose to 7.6% from 6.7% in the year-earlier period.

Total revenue increased 5.7% on an annual basis to 100.1 million baht from 94.7 million baht, and total operating expenses rose 6.8% on an annual basis to 87.7 million baht from 82.1 million baht.

Reported net income grew 23.2% from the prior-year period to 9.6 million baht, or 96 satang per share, from 7.8 million baht, or 78 satang per share.

As of Aug. 8, US$1 was equivalent to 35.01 baht.