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Sawang Export swings to loss in Q4

Sawang Export PCL said its normalized net income for the fourth quarter was a loss of 8 satang per share, compared with 2 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 a loss of 1.8 million baht, compared with income of 368,310 baht in the prior-year period.

The normalized profit margin declined to negative 2.7% from 0.6% in the year-earlier period.

Total revenue rose year over year to 67.5 million baht from 64.8 million baht, and total operating expenses rose 9.5% from the prior-year period to 71.1 million baht from 64.9 million baht.

Reported net income increased year over year to 4.9 million baht, or 20 satang per share, from 708,490 baht, or 3 satang per share.

For the year, the company's normalized net income totaled a loss of 29 satang per share, compared with a loss of 44 satang per share in the prior year.

Normalized net income was a loss of 7.0 million baht, compared with a loss of 10.5 million baht in the prior year.

Full-year total revenue increased on an annual basis to 209.8 million baht from 203.9 million baht, and total operating expenses came to 223.3 million baht, compared with 222.9 million baht in the year-earlier period.

The company said reported net income totaled a loss of 3.1 million baht, or a loss of 13 satang per share, in the full year, compared with a loss of 16.4 million baht, or a loss of 68 satang per share, the prior year.

As of Feb. 29, US$1 was equivalent to 35.64 baht.