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Surapon Foods Q3 profit falls YOY

Surapon Foods Public Company Ltd said its normalized net income for the third quarter came to 9 satang per share, a decline of 10.7% from 10 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 23.0 million baht, a decrease of 10.7% from 25.8 million baht in the prior-year period.

The normalized profit margin fell to 1.4% from 1.9% in the year-earlier period.

Total revenue climbed 16.6% on an annual basis to 1.60 billion baht from 1.37 billion baht, and total operating expenses increased 15.0% from the prior-year period to 1.40 billion baht from 1.22 billion baht.

Reported net income fell on an annual basis to 73.1 million baht, or 27 satang per share, from 75.3 million baht, or 28 satang per share.

As of Nov. 11, US$1 was equivalent to 35.43 baht.