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Asia Fiber swings to loss in fiscal Q3

Asia Fiber PCL said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 26 satang per share, compared with 6 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 12.0 million baht, compared with income of 2.8 million baht in the year-earlier period.

The normalized profit margin declined to negative 6.0% from 0.9% in the year-earlier period.

Total revenue fell 39.7% year over year to 196.7 million baht from 326.3 million baht, and total operating expenses declined 33.1% on an annual basis to 219.2 million baht from 327.8 million baht.

Reported net income totaled a loss of 19.3 million baht, or a loss of 42 satang per share, compared to income of 4.6 million baht, or 10 satang per share, in the year-earlier period.

As of May 7, US$1 was equivalent to 33.59 baht.