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Food & Drinks PCL swings to loss in Q2

Food & Drinks PCL said its normalized net income for the second quarter amounted to a loss of 89 satang per share, compared with 25 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 13.4 million baht, compared with income of 3.7 million baht in the year-earlier period.

The normalized profit margin fell to negative 11.5% from 2.9% in the year-earlier period.

Total revenue decreased 9.0% year over year to 115.8 million baht from 127.2 million baht, and total operating expenses climbed 12.5% from the prior-year period to 139.8 million baht from 124.2 million baht.

Reported net income totaled a loss of 15.2 million baht, or a loss of 1.01 baht per share, compared to income of 4.4 million baht, or 29 satang per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to 35.12 baht.