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Union Pioneer Q2 profit climbs 59.0% YOY

Union Pioneer PCL said its normalized net income for the second quarter amounted to 49 satang per share, a gain of 59.0% from 31 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 3.7 million baht, a gain of 59.0% from 2.3 million baht in the prior-year period.

The normalized profit margin increased to 2.6% from 1.6% in the year-earlier period.

Total revenue declined on an annual basis to 142.8 million baht from 145.4 million baht, and total operating expenses declined year over year to 136.9 million baht from 141.7 million baht.

Reported net income increased 9.8% on an annual basis to 4.1 million baht, or 54 satang per share, from 3.7 million baht, or 49 satang per share.

As of Aug. 6, US$1 was equivalent to 35.15 baht.