Agripure Holdings PCL said its fourth-quarter normalized net income came to 1 satang per share, a decrease of 41.6% from 2 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.3 million baht, a decline of 13.8% from 14.3 million baht in the prior-year period.

The normalized profit margin fell to 4.0% from 4.7% in the year-earlier period.

Total revenue came to 304.9 million baht, compared with 303.9 million baht in the year-earlier period, and total operating expenses grew from the prior-year period to 285.9 million baht from 282.9 million baht.

Reported net income declined 19.0% year over year to 15.7 million baht, or 2 satang per share, from 19.4 million baht, or 3 satang per share.

For the year, the company's normalized net income totaled 8 satang per share, a fall from 9 satang per share in the prior year.

Normalized net income was 74.0 million baht, an increase of 29.0% from 57.4 million baht in the prior year.

Full-year total revenue totaled 1.23 billion baht, compared with 1.22 billion baht in the prior year, and total operating expenses came to 1.12 billion baht, compared with 1.12 billion baht in the prior-year period.

The company said reported net income rose 21.4% on an annual basis to 96.3 million baht, or 11 satang per share, in the full year, from 79.3 million baht, or 12 satang per share.

As of Feb. 29, US$1 was equivalent to 35.64 baht.