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Ocean Glass Q4 profit climbs 29.6% YOY

Ocean Glass PCL said its fourth-quarter normalized net income amounted to 4.47 baht per share, a gain of 29.6% from 3.45 baht per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 95.3 million baht, a gain of 29.6% from 73.5 million baht in the prior-year period.

The normalized profit margin increased to 14.5% from 11.1% in the year-earlier period.

Total revenue totaled 658.2 million baht, compared with 660.4 million baht in the year-earlier period, and total operating expenses decreased 5.8% from the prior-year period to 499.0 million baht from 529.8 million baht.

Reported net income increased 17.0% year over year to 89.4 million baht, or 4.19 baht per share, from 76.5 million baht, or 3.58 baht per share.

For the year, the company's normalized net income totaled 10.16 baht per share, a gain of 39.4% from 7.29 baht per share in the prior year.

Normalized net income was 216.8 million baht, a gain of 39.4% from 155.5 million baht in the prior year.

Full-year total revenue decreased from the prior-year period to 2.00 billion baht from 2.09 billion baht, and total operating expenses fell 10.5% year over year to 1.60 billion baht from 1.79 billion baht.

The company said reported net income increased on an annual basis to 133.4 million baht, or 6.26 baht per share, in the full year, from 47.0 million baht, or 2.20 baht per share.

As of Feb. 19, US$1 was equivalent to 35.76 baht.