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Lam Soon (Thailand) Q2 profit falls YOY

Lam Soon (Thailand) Public Company Ltd said its second-quarter normalized net income was 10 satang per share, a decrease of 25.2% 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 77.9 million baht, a decline of 25.2% from 104.1 million baht in the prior-year period.

The normalized profit margin declined to 3.7% from 4.8% in the year-earlier period.

Total revenue declined year over year to 2.12 billion baht from 2.15 billion baht, and total operating expenses came to 1.96 billion baht, compared with 1.96 billion baht in the prior-year period.

Reported net income declined 20.3% year over year to 103.5 million baht, or 13 satang per share, from 130.0 million baht, or 16 satang per share.

As of Aug. 11, US$1 was equivalent to 34.73 baht.