MK Restaurant Group Public Co. Ltd. said its normalized net income for the first quarter came to 37 satang per share, compared with the S&P Capital IQ consensus estimate of 48 satang per share.

EPS fell 9.1% year over year from 41 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 338.7 million baht, a decline of 9.0% from 372.4 million baht in the prior-year period.

The normalized profit margin declined to 9.3% from 10.2% in the year-earlier period.

Total revenue totaled 3.66 billion baht, compared with 3.64 billion baht in the year-earlier period, and total operating expenses rose on an annual basis to 3.14 billion baht from 3.10 billion baht.

Reported net income decreased 7.6% from the prior-year period to 441.2 million baht, or 48 satang per share, from 477.5 million baht, or 52 satang per share.

As of May 12, US$1 was equivalent to 35.33 baht.