Moong Pattana International Public Company Ltd said its fourth-quarter normalized net income came to 7 satang per share, an increase of 91.6% from 4 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 11.8 million baht, an increase from 4.5 million baht in the year-earlier period.

The normalized profit margin increased to 7.1% from 2.6% in the year-earlier period.

Total revenue fell 5.1% on an annual basis to 167.2 million baht from 176.1 million baht, and total operating expenses fell 8.0% year over year to 168.6 million baht from 183.2 million baht.

Reported net income increased on an annual basis to 18.9 million baht, or 12 satang per share, from 8.4 million baht, or 7 satang per share.

For the year, the company's normalized net income totaled 33 satang per share, an increase of 6.8% from 31 satang per share in the prior year.

Normalized net income was 46.9 million baht, a gain of 27.7% from 36.7 million baht in the prior year.

Full-year total revenue decreased year over year to 677.8 million baht from 710.4 million baht, and total operating expenses decreased year over year to 673.5 million baht from 699.5 million baht.

The company said reported net income rose 29.6% on an annual basis to 74.7 million baht, or 52 satang per share, in the full year, from 57.6 million baht, or 48 satang per share.

As of Feb. 24, US$1 was equivalent to 35.69 baht.