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Erawan Group swings to profit in Q2

Erawan Group PCL said its second-quarter normalized net income was 18.4 million baht, compared with a loss of 9.2 million baht in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 1.4% from negative 0.8% in the year-earlier period.

Total revenue grew 6.1% on an annual basis to 1.29 billion baht from 1.22 billion baht, and total operating expenses grew year over year to 1.17 billion baht from 1.13 billion baht.

Reported net income came to 17.0 million baht, or 1 satang per share, compared to a loss of 24.9 million baht, or a loss of 1 satang per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to 34.75 baht.