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C.I. Group swings to loss in Q1

C.I. Group PCL said its first-quarter normalized net income was a loss of 831,500 baht, compared with income of 4.0 million baht in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 0.4% from 1.3% in the year-earlier period.

Total revenue decreased 22.6% on an annual basis to 236.7 million baht from 306.0 million baht, and total operating expenses fell 20.5% on an annual basis to 236.4 million baht from 297.5 million baht.

Reported net income totaled a loss of 1.7 million baht, or a loss of 0 satang per share, compared to a loss of 751,000 baht, or a loss of 0 satang per share, in the prior-year period.

As of May 10, US$1 was equivalent to 35.23 baht.