Siam Wellness Group Public Company Ltd said its first-quarter normalized net income amounted to 5 satang per share, an increase of 47.8% 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 27.2 million baht, a gain of 47.8% from 18.4 million baht in the year-earlier period.

The normalized profit margin declined to 15.5% from 15.7% in the year-earlier period.

Total revenue grew 49.7% on an annual basis to 176.0 million baht from 117.6 million baht, and total operating expenses increased 51.3% on an annual basis to 132.4 million baht from 87.5 million baht.

Reported net income grew 48.9% year over year to 35.2 million baht, or 6 satang per share, from 23.7 million baht, or 4 satang per share.

As of May 16, US$1 was equivalent to 35.39 baht.