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Thai Wah Q3 profit climbs YOY

Thai Wah Public Co. Ltd said its third-quarter normalized net income came to 15 satang per share, a decrease of 78.4% from 70 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 133.7 million baht, an increase from 55.2 million baht in the prior-year period.

The normalized profit margin rose to 8.6% from 5.0% in the year-earlier period.

Total revenue increased 40.8% on an annual basis to 1.56 billion baht from 1.11 billion baht, and total operating expenses climbed 23.8% from the prior-year period to 1.31 billion baht from 1.06 billion baht.

Reported net income increased from the prior-year period to 184.6 million baht, or 21 satang per share, from 58.1 million baht, or 74 satang per share.

As of Nov. 9, US$1 was equivalent to 34.98 baht.