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Goodyear (Thailand) Q4 profit climbs 45.4% YOY

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Goodyear (Thailand) Q4 profit climbs 45.4% YOY

Goodyear (Thailand) Public Company Ltd said its normalized net income for the fourth quarter amounted to 12.43 baht per share, an increase of 45.4% from 8.55 baht per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 91.9 million baht, a gain of 45.4% from 63.3 million baht in the prior-year period.

The normalized profit margin increased to 9.2% from 6.1% in the year-earlier period.

Total revenue declined on an annual basis to 992.8 million baht from 1.03 billion baht, and total operating expenses declined on an annual basis to 887.7 million baht from 932.9 million baht.

Reported net income increased 39.5% from the prior-year period to 116.6 million baht, or 15.75 baht per share, from 83.6 million baht, or 11.29 baht per share.

For the year, the company's normalized net income totaled 30.13 baht per share, a decline of 26.3% from 40.87 baht per share in the prior year.

Normalized net income was 222.9 million baht, a fall of 26.3% from 302.4 million baht in the prior year.

Full-year total revenue declined from the prior-year period to 3.90 billion baht from 3.97 billion baht, and total operating expenses declined year over year to 3.56 billion baht from 3.61 billion baht.

The company said reported net income decreased 27.5% year over year to 279.5 million baht, or 37.77 baht per share, in the full year, from 385.5 million baht, or 52.09 baht per share.

As of Feb. 28, US$1 was equivalent to 34.86 baht.