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Singer Thailand Q3 profit falls YOY

Singer Thailand Public Company Ltd said its third-quarter normalized net income amounted to 3 satang per share, a decrease of 77.4% 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 8.3 million baht, a decrease of 77.4% from 36.6 million baht in the year-earlier period.

The normalized profit margin dropped to 1.0% from 4.1% in the year-earlier period.

Total revenue decreased 10.5% year over year to 796.0 million baht from 889.4 million baht, and total operating expenses declined 5.6% year over year to 770.7 million baht from 816.2 million baht.

Reported net income declined 77.4% on an annual basis to 10.6 million baht, or 4 satang per share, from 46.9 million baht, or 17 satang per share.

As of Nov. 12, US$1 was equivalent to 35.85 baht.