Univanich Palm Oil Public Company Ltd said its normalized net income for the first quarter was 5 satang per share, an increase of 12.2% from 4 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 43.5 million baht, an increase of 12.3% from 38.8 million baht in the year-earlier period.

The normalized profit margin rose to 5.4% from 4.9% in the year-earlier period.

Total revenue climbed on an annual basis to 799.4 million baht from 789.4 million baht, and total operating expenses totaled 744.8 million baht, compared with 740.6 million baht in the prior-year period.

Reported net income increased 7.2% year over year to 55.1 million baht, or 6 satang per share, from 51.4 million baht, or 5 satang per share.

As of May 13, US$1 was equivalent to 35.48 baht.