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Khonburi Sugar swings to loss in Q3

Khonburi Sugar PCL said its normalized net income for the third quarter came to a loss of 11 satang per share, compared with 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 a loss of 67.5 million baht, compared with income of 20.8 million baht in the prior-year period.

The normalized profit margin declined to negative 4.1% from 1.8% in the year-earlier period.

Total revenue climbed 42.8% on an annual basis to 1.68 billion baht from 1.17 billion baht, and total operating expenses grew 52.1% from the prior-year period to 1.79 billion baht from 1.17 billion baht.

Reported net income totaled a loss of 88.9 million baht, or a loss of 15 satang per share, compared to income of 22.6 million baht, or 4 satang per share, in the year-earlier period.

As of Nov. 10, US$1 was equivalent to 35.89 baht.