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Fortune Parts Industry Q2 profit falls YOY

Fortune Parts Industry Public Co. Ltd. said its second-quarter normalized net income came to 3 satang per share, a decline of 15.4% from 4 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 43.2 million baht, a decrease of 11.6% from 48.9 million baht in the prior-year period.

The normalized profit margin dropped to 9.4% from 10.8% in the year-earlier period.

Total revenue increased on an annual basis to 461.3 million baht from 453.9 million baht, and total operating expenses rose 7.7% year over year to 395.2 million baht from 367.0 million baht.

Reported net income declined 16.4% year over year to 50.3 million baht, or 4 satang per share, from 60.1 million baht, or 5 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.