Bangkok Ranch Public Co. Ltd said its second-quarter normalized net income came to 5 satang per share, a decrease of 62.6% from 13 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 45.6 million baht, a decrease of 50.2% from 91.5 million baht in the year-earlier period.

The normalized profit margin declined to 2.5% from 4.7% in the year-earlier period.

Total revenue fell on an annual basis to 1.86 billion baht from 1.93 billion baht, and total operating expenses increased from the prior-year period to 1.77 billion baht from 1.74 billion baht.

Reported net income totaled a loss of 40.1 million baht, or a loss of 4 satang per share, compared to income of 136.0 million baht, or 20 satang per share, in the year-earlier period.

As of Aug. 15, US$1 was equivalent to 34.58 baht.