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Newcity (Bangkok) Q1 profit falls YOY

Newcity (Bangkok) PCL said its first-quarter normalized net income amounted to 41 satang per share, a decline of 10.3% from 46 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 6.2 million baht, a decrease of 10.3% from 6.9 million baht in the prior-year period.

The normalized profit margin declined to 3.8% from 4.3% in the year-earlier period.

Total revenue grew year over year to 161.3 million baht from 159.2 million baht, and total operating expenses increased year over year to 151.5 million baht from 147.7 million baht.

Reported net income fell 9.3% from the prior-year period to 8.1 million baht, or 54 satang per share, from 8.9 million baht, or 59 satang per share.

As of May 11, US$1 was equivalent to 33.71 baht.