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Siam Makro profit misses consensus by 21.4% in Q2

Siam Makro PCL said its normalized net income for the second quarter came to 19 satang per share, compared with the S&P Capital IQ consensus estimate of 24 satang per share.

EPS rose 10.1% year over year from 17 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 917.8 million baht, an increase of 10.1% from 833.3 million baht in the prior-year period.

The normalized profit margin increased to 2.4% from 2.4% in the year-earlier period.

Total revenue grew 10.1% on an annual basis to 38.09 billion baht from 34.60 billion baht, and total operating expenses rose 10.0% on an annual basis to 36.56 billion baht from 33.23 billion baht.

Reported net income increased 11.1% on an annual basis to 1.17 billion baht, or 24 satang per share, from 1.05 billion baht, or 22 satang per share.

As of Aug. 6, US$1 was equivalent to 35.15 baht.