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Union Auction Q2 profit falls YOY

Union Auction Public Company Ltd said its normalized net income for the second quarter came to 5 satang per share, a decline of 16.6% from 6 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 28.5 million baht, a decline of 16.6% from 34.2 million baht in the year-earlier period.

The normalized profit margin dropped to 18.0% from 21.3% in the year-earlier period.

Total revenue decreased year over year to 158.6 million baht from 161.0 million baht, and total operating expenses grew 5.6% on an annual basis to 116.4 million baht from 110.2 million baht.

Reported net income decreased 18.1% from the prior-year period to 34.7 million baht, or 6 satang per share, from 42.4 million baht, or 8 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.