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Thai President Foods Q3 profit climbs 26.3% YOY

Thai President Foods Public Company Ltd said its third-quarter normalized net income came to 1.94 baht per share, an increase of 26.3% from 1.54 baht per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 350.0 million baht, a gain of 26.3% from 277.0 million baht in the year-earlier period.

The normalized profit margin rose to 11.9% from 9.7% in the year-earlier period.

Total revenue increased year over year to 2.95 billion baht from 2.87 billion baht, and total operating expenses fell year over year to 2.45 billion baht from 2.50 billion baht.

Reported net income rose 28.0% on an annual basis to 537.6 million baht, or 2.99 baht per share, from 420.0 million baht, or 2.33 baht per share.

As of Nov. 16, US$1 was equivalent to 35.96 baht.