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Asian Seafoods Coldstorage swings to profit in Q3

Asian Seafoods Coldstorage PCL said its third-quarter normalized net income came to 10 satang per share, compared with a loss of 5 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 53.3 million baht, compared with a loss of 27.6 million baht in the prior-year period.

The normalized profit margin increased to 2.2% from negative 1.5% in the year-earlier period.

Total revenue climbed 27.1% on an annual basis to 2.34 billion baht from 1.84 billion baht, and total operating expenses increased 19.7% on an annual basis to 2.27 billion baht from 1.90 billion baht.

Reported net income came to 84.8 million baht, or 16 satang per share, compared to a loss of 44.4 million baht, or a loss of 8 satang per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 35.94 baht.