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Singer Thailand Q3 profit falls YOY

Singer Thailand Public Co. Ltd said its third-quarter normalized net income came to 1.9 million baht, a fall of 77.2% from 8.3 million baht in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.3% from 1.0% in the year-earlier period.

Total revenue decreased 30.3% year over year to 554.4 million baht from 796.0 million baht, and total operating expenses decreased 29.5% from the prior-year period to 543.3 million baht from 770.7 million baht.

Reported net income declined 51.4% year over year to 5.1 million baht, or 2 satang per share, from 10.6 million baht, or 4 satang per share.

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