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Sawang Export Q2 loss widens YOY

Sawang Export PCL said its second-quarter normalized net income amounted to a loss of 16 satang per share, compared with a loss of 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 a loss of 3.9 million baht, compared with a loss of 728,530 baht in the year-earlier period.

The normalized profit margin fell to negative 9.8% from negative 1.3% in the year-earlier period.

Total revenue fell 28.5% year over year to 39.9 million baht from 55.7 million baht, and total operating expenses declined 19.5% year over year to 46.3 million baht from 57.6 million baht.

Reported net income came to a loss of 6.1 million baht, or a loss of 26 satang per share, compared to a loss of 1.1 million baht, or a loss of 4 satang per share, in the year-earlier period.

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