Abico Holdings Public Company Ltd said its normalized net income for the fourth quarter was 8 satang per share, an increase from 3 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 17.7 million baht, an increase from 7.6 million baht in the year-earlier period.

The normalized profit margin increased to 14.0% from 6.1% in the year-earlier period.

Total revenue rose year over year to 126.7 million baht from 124.0 million baht, and total operating expenses declined 9.3% year over year to 122.5 million baht from 135.1 million baht.

Reported net income rose 63.5% on an annual basis to 29.4 million baht, or 13 satang per share, from 18.0 million baht, or 8 satang per share.

For the year, the company's normalized net income totaled 27 satang per share, a decrease of 18.3% from 33 satang per share in the prior year.

Normalized net income was 62.5 million baht, a decrease of 18.3% from 76.4 million baht in the prior year.

Full-year total revenue declined 7.0% on an annual basis to 507.7 million baht from 545.8 million baht, and total operating expenses fell 7.4% year over year to 491.4 million baht from 530.7 million baht.

The company said reported net income declined 19.9% on an annual basis to 105.2 million baht, or 45 satang per share, in the full year, from 131.4 million baht, or 56 satang per share.

As of Feb. 26, US$1 was equivalent to 35.74 baht.