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Sermsuk Q1 loss widens 26.3% YOY

Sermsuk PCL said its first-quarter normalized net income was a loss of 51 satang per share, compared with a loss of 40 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 134.7 million baht, compared with a loss of 106.7 million baht in the year-earlier period.

The normalized profit margin fell to negative 5.0% from negative 4.3% in the year-earlier period.

Total revenue grew 10.0% year over year to 2.70 billion baht from 2.45 billion baht, and total operating expenses climbed 9.3% on an annual basis to 2.94 billion baht from 2.69 billion baht.

Reported net income totaled a loss of 158.7 million baht, or a loss of 60 satang per share, compared to a loss of 119.1 million baht, or a loss of 45 satang per share, in the year-earlier period.

As of May 11, US$1 was equivalent to 33.71 baht.