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Lam Soon (Thailand) Q3 profit climbs 8.1% YOY

Lam Soon (Thailand) Public Company Ltd said its normalized net income for the third quarter amounted to 8 satang per share, a gain of 8.1% 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 65.7 million baht, an increase of 8.1% from 60.8 million baht in the year-earlier period.

The normalized profit margin dropped to 3.0% from 3.4% in the year-earlier period.

Total revenue rose 24.1% year over year to 2.21 billion baht from 1.78 billion baht, and total operating expenses rose 24.3% on an annual basis to 2.08 billion baht from 1.67 billion baht.

Reported net income increased year over year to 80.5 million baht, or 10 satang per share, from 78.1 million baht, or 10 satang per share.

As of Nov. 11, US$1 was equivalent to 35.43 baht.