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Yuasa Battery (Thailand) swings to profit in Q1

Yuasa Battery (Thailand) PCL said its normalized net income for the first quarter came to 14 satang per share, compared with a loss of 6 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.4 million baht, compared with a loss of 6.6 million baht in the prior-year period.

The normalized profit margin rose to 3.2% from negative 1.7% in the year-earlier period.

Total revenue increased 20.1% on an annual basis to 478.1 million baht from 398.1 million baht, and total operating expenses rose 11.0% from the prior-year period to 453.8 million baht from 409.0 million baht.

Reported net income totaled 25.2 million baht, or 23 satang per share, compared to a loss of 8.9 million baht, or a loss of 8 satang per share, in the year-earlier period.

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