Jubilee Enterprise Public Company Ltd said its third-quarter normalized net income came to 11 satang per share, a decrease of 50.2% from 21 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 18.6 million baht, a decline of 50.2% from 37.3 million baht in the prior-year period.

The normalized profit margin dropped to 5.6% from 8.8% in the year-earlier period.

Total revenue decreased 21.6% on an annual basis to 330.3 million baht from 421.5 million baht, and total operating expenses declined 17.1% from the prior-year period to 301.0 million baht from 363.3 million baht.

Reported net income decreased 49.5% on an annual basis to 24.1 million baht, or 14 satang per share, from 47.8 million baht, or 27 satang per share.

As of Nov. 12, US$1 was equivalent to 35.85 baht.