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Agripure Holdings swings to profit in Q1

Agripure Holdings PCL said its normalized net income for the first quarter amounted to 15.0 million baht, compared with a loss of 88,250 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 rose to 4.8% from negative 0.0% in the year-earlier period.

Total revenue grew 14.8% on an annual basis to 311.2 million baht from 271.0 million baht, and total operating expenses increased 5.3% on an annual basis to 283.4 million baht from 269.1 million baht.

Reported net income came to 18.1 million baht, or 3 satang per share, compared to a loss of 1.1 million baht, or a loss of 0 satang per share, in the prior-year period.

As of May 14, US$1 was equivalent to 33.48 baht.