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Buriram Sugar swings to loss in Q3

Buriram Sugar Public Company Ltd said its third-quarter normalized net income came to a loss of 1 satang per share, compared with 5 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 9.0 million baht, compared with income of 32.8 million baht in the year-earlier period.

The normalized profit margin dropped to negative 1.1% from 4.9% in the year-earlier period.

Total revenue grew 17.7% year over year to 783.7 million baht from 665.7 million baht, and total operating expenses increased 31.3% on an annual basis to 783.8 million baht from 597.0 million baht.

Reported net income came to a loss of 7.1 million baht, or a loss of 1 satang per share, compared to income of 34.9 million baht, or 6 satang per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to 35.85 baht.