Lee Feed Mill Public Company Ltd said its third-quarter normalized net income amounted to 3 satang per share, a decline of 23.8% from 3 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 23.9 million baht, a decline of 23.8% from 31.3 million baht in the year-earlier period.

The normalized profit margin fell to 2.7% from 2.9% in the year-earlier period.

Total revenue declined 18.4% on an annual basis to 881.4 million baht from 1.08 billion baht, and total operating expenses fell 18.1% on an annual basis to 848.0 million baht from 1.04 billion baht.

Reported net income fell 26.5% on an annual basis to 34.5 million baht, or 4 satang per share, from 46.9 million baht, or 5 satang per share.

As of Nov. 10, US$1 was equivalent to 35.89 baht.