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Khonburi Sugar Q4 loss widens YOY

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Khonburi Sugar Q4 loss widens YOY

Khonburi Sugar PCL said its normalized net income for the fourth quarter was a loss of 27 satang per share, compared with a loss of 8 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 a loss of 159.0 million baht, compared with a loss of 45.4 million baht in the prior-year period.

The normalized profit margin declined to negative 13.7% from negative 2.4% in the year-earlier period.

Total revenue fell 38.6% on an annual basis to 1.18 billion baht from 1.92 billion baht, and total operating expenses decreased 28.3% from the prior-year period to 1.44 billion baht from 2.01 billion baht.

Reported net income totaled a loss of 189.8 million baht, or a loss of 32 satang per share, compared to a loss of 60.7 million baht, or a loss of 10 satang per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 11 satang per share, compared with 40 satang per share in the prior year.

Normalized net income was a loss of 67.4 million baht, compared with income of 229.7 million baht in the prior year.

Full-year total revenue grew 6.8% from the prior-year period to 6.60 billion baht from 6.18 billion baht, and total operating expenses increased 14.0% year over year to 6.68 billion baht from 5.86 billion baht.

The company said reported net income came to a loss of 50.2 million baht, or a loss of 8 satang per share, in the full year, compared with income of 318.7 million baht, or 56 satang per share, the prior year.

As of Feb. 24, US$1 was equivalent to 35.69 baht.