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Seafresh Industry Q3 profit falls YOY

Seafresh Industry PCL said its normalized net income for the third quarter came to 2 satang per share, a decline of 91.1% from 18 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 6.4 million baht, a decline of 92.2% from 82.1 million baht in the prior-year period.

The normalized profit margin fell to 0.4% from 4.4% in the year-earlier period.

Total revenue declined 5.7% year over year to 1.78 billion baht from 1.89 billion baht, and total operating expenses decreased 4.9% year over year to 1.67 billion baht from 1.75 billion baht.

Reported net income decreased 91.0% year over year to 12.0 million baht, or 3 satang per share, from 133.8 million baht, or 29 satang per share.

As of Nov. 11, US$1 was equivalent to 35.43 baht.