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Sappe Q2 profit climbs 18.4% YOY

Sappe PCL said its second-quarter normalized net income amounted to 39 satang per share, compared with the S&P Capital IQ consensus estimate of 45 satang per share.

EPS climbed 18.6% year over year from 33 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 118.2 million baht, an increase of 18.4% from 99.8 million baht in the prior-year period.

The normalized profit margin increased to 14.1% from 12.3% in the year-earlier period.

Total revenue rose on an annual basis to 835.2 million baht from 811.7 million baht, and total operating expenses came to 649.4 million baht, compared with 646.9 million baht in the year-earlier period.

Reported net income rose 21.8% year over year to 150.9 million baht, or 50 satang per share, from 123.9 million baht, or 41 satang per share.

As of Aug. 15, US$1 was equivalent to 34.58 baht.