City Sports and Recreation Public Company Ltd said its normalized net income for the second quarter was 49 satang per share, a decrease of 17.6% from 60 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 10.1 million baht, a decline of 17.0% from 12.2 million baht in the year-earlier period.

The normalized profit margin fell to 27.2% from 32.9% in the year-earlier period.

Total revenue declined on an annual basis to 36.5 million baht from 37.0 million baht, and total operating expenses increased 10.2% from the prior-year period to 22.7 million baht from 20.6 million baht.

Reported net income fell 17.6% year over year to 12.9 million baht, or 63 satang per share, from 15.7 million baht, or 77 satang per share.

As of Aug. 4, US$1 was equivalent to 34.91 baht.