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Thai Beverage profit misses consensus by 34.1% in fiscal Q2

Thai Beverage PCL said its normalized net income for the fiscal second quarter ended March 31 amounted to 20 satang per share, compared with the S&P Capital IQ consensus estimate of 30 satang per share.

EPS increased 15.2% year over year from 17 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.96 billion baht, a gain of 14.6% from 4.33 billion baht in the second quarter ended June 30, 2016.

The normalized profit margin rose to 9.8% from 9.5% in the year-earlier period.

Total revenue grew 10.8% year over year to 50.58 billion baht from 45.65 billion baht, and total operating expenses rose 9.8% year over year to 42.92 billion baht from 39.09 billion baht.

Reported net income grew 12.5% on an annual basis to 6.53 billion baht, or 26 satang per share, from 5.81 billion baht, or 23 satang per share.

As of May 11, US$1 was equivalent to 34.74 baht.