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Chumporn Palm Oil Industry Q4 loss narrows YOY

Chumporn Palm Oil Industry PCL said its fourth-quarter normalized net income was a loss of 1 satang per share, compared with a loss of 2 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 7.7 million baht, compared with a loss of 9.8 million baht in the prior-year period.

The normalized profit margin rose to negative 0.8% from negative 0.9% in the year-earlier period.

Total revenue declined 12.2% on an annual basis to 919.7 million baht from 1.05 billion baht, and total operating expenses fell 12.6% year over year to 920.6 million baht from 1.05 billion baht.

Reported net income totaled a loss of 10.2 million baht, or a loss of 2 satang per share, compared to a loss of 14.1 million baht, or a loss of 2 satang per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 3 satang per share, compared with 7 satang per share in the prior year.

Normalized net income was a loss of 17.7 million baht, compared with income of 40.6 million baht in the prior year.

Full-year total revenue declined 16.1% from the prior-year period to 3.92 billion baht from 4.67 billion baht, and total operating expenses fell 14.2% year over year to 3.92 billion baht from 4.57 billion baht.

The company said reported net income totaled a loss of 18.3 million baht, or a loss of 3 satang per share, in the full year, compared with income of 49.9 million baht, or 9 satang per share, the prior year.

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