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Sub Sri Thai swings to profit in Q1

Sub Sri Thai Public Company Ltd said its normalized net income for the first quarter amounted to 1.2 million baht, compared with a loss of 7.4 million baht in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 0.1% from negative 1.0% in the year-earlier period.

Total revenue climbed 5.9% on an annual basis to 812.6 million baht from 767.6 million baht, and total operating expenses increased from the prior-year period to 794.4 million baht from 763.4 million baht.

Reported net income came to a loss of 4.7 million baht, or a loss of 1 satang per share, compared to a loss of 17.5 million baht, or a loss of 4 satang per share, in the prior-year period.

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