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Sri Trang Agro-Industry Q2 profit climbs YOY

Sri Trang Agro-Industry PCL said its second-quarter normalized net income came to 25 satang per share, an increase from 7 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 323.0 million baht, an increase from 90.0 million baht in the year-earlier period.

The normalized profit margin rose to 2.1% from 0.5% in the year-earlier period.

Total revenue fell 18.1% on an annual basis to 15.08 billion baht from 18.41 billion baht, and total operating expenses decreased 20.3% from the prior-year period to 14.61 billion baht from 18.32 billion baht.

Reported net income increased from the prior-year period to 518.1 million baht, or 40 satang per share, from 166.6 million baht, or 13 satang per share.

As of Aug. 14, US$1 was equivalent to 35.26 baht.