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Mc Group profit misses consensus by 29.7% in Q1

Mc Group Public Company Ltd said its normalized net income for the first quarter amounted to 15 satang per share, compared with the S&P Capital IQ consensus estimate of 22 satang per share.

EPS decreased 14.7% year over year from 18 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 123.7 million baht, a decline of 14.7% from 144.9 million baht in the year-earlier period.

The normalized profit margin dropped to 13.7% from 16.7% in the year-earlier period.

Total revenue rose year over year to 903.2 million baht from 866.0 million baht, and total operating expenses rose 10.7% from the prior-year period to 704.3 million baht from 636.2 million baht.

Reported net income decreased 5.6% year over year to 195.1 million baht, or 24 satang per share, from 206.6 million baht, or 26 satang per share.

As of May 14, US$1 was equivalent to 33.48 baht.