People's Garment Public Company Ltd said its normalized net income for the first quarter amounted to 16 satang per share, a gain of 19.0% from 13 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 15.1 million baht, an increase of 16.5% from 13.0 million baht in the prior-year period.

The normalized profit margin increased to 5.1% from 3.7% in the year-earlier period.

Total revenue increased year over year to 365.2 million baht from 354.9 million baht, and total operating expenses rose from the prior-year period to 341.0 million baht from 334.1 million baht.

Reported net income rose 17.5% from the prior-year period to 22.6 million baht, or 24 satang per share, from 19.3 million baht, or 20 satang per share.

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