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Erawan Group swings to profit in Q3

Erawan Group PCL said its normalized net income for the third quarter was 48.7 million baht, compared with a loss of 5.1 million baht in the year-earlier period.

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

The normalized profit margin rose to 3.5% from negative 0.4% in the year-earlier period.

Total revenue climbed 13.1% year over year to 1.38 billion baht from 1.22 billion baht, and total operating expenses climbed from the prior-year period to 1.19 billion baht from 1.14 billion baht.

Reported net income came to 55.7 million baht, or 2 satang per share, compared to a loss of 19.9 million baht, or a loss of 1 satang per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 34.98 baht.