Sri Trang Agro-Industry PCL said its normalized net income for the first quarter came to 16 satang per share, a decline of 25.6% from 21 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 200.4 million baht, a decline of 25.8% from 270.2 million baht in the prior-year period.

The normalized profit margin climbed to 1.4% from 1.2% in the year-earlier period.

Total revenue fell 36.3% on an annual basis to 14.51 billion baht from 22.76 billion baht, and total operating expenses fell 37.2% on an annual basis to 14.13 billion baht from 22.49 billion baht.

Reported net income declined 26.0% on an annual basis to 297.3 million baht, or 23 satang per share, from 402.0 million baht, or 31 satang per share.

As of May 14, US$1 was equivalent to 33.48 baht.