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Buriram Sugar Q2 profit climbs YOY

Buriram Sugar Public Company Ltd said its second-quarter normalized net income was 14 satang per share, a gain from 3 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 109.7 million baht, an increase from 14.7 million baht in the year-earlier period.

The normalized profit margin rose to 7.9% from 1.0% in the year-earlier period.

Total revenue declined 13.6% on an annual basis to 1.31 billion baht from 1.52 billion baht, and total operating expenses decreased 25.8% on an annual basis to 1.09 billion baht from 1.46 billion baht.

Reported net income grew year over year to 145.9 million baht, or 18 satang per share, from 24.4 million baht, or 5 satang per share.

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