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Seafresh Industry Q1 profit falls YOY

Seafresh Industry PCL said its first-quarter normalized net income was 4 satang per share, a decline of 68.9% from 14 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 20.1 million baht, a decline of 67.2% from 61.3 million baht in the prior-year period.

The normalized profit margin dropped to 1.1% from 3.4% in the year-earlier period.

Total revenue totaled 1.77 billion baht, compared with 1.78 billion baht in the year-earlier period, and total operating expenses came to 1.69 billion baht, compared with 1.68 billion baht in the year-earlier period.

Reported net income declined 60.5% from the prior-year period to 42.8 million baht, or 9 satang per share, from 108.4 million baht, or 24 satang per share.

As of May 13, US$1 was equivalent to 33.55 baht.