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Carabao Group profit beats consensus by 86.8% in Q2

Carabao Group Public Company Ltd said its normalized net income for the second quarter came to 26 satang per share, compared with the S&P Capital IQ consensus estimate of 14 satang per share.

EPS increased 6.4% year over year from 25 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 261.5 million baht, an increase of 71.6% from 152.3 million baht in the prior-year period.

The normalized profit margin rose to 13.0% from 7.8% in the year-earlier period.

Total revenue rose on an annual basis to 2.01 billion baht from 1.96 billion baht, and total operating expenses fell on an annual basis to 1.59 billion baht from 1.62 billion baht.

Reported net income rose 70.9% year over year to 355.2 million baht, or 36 satang per share, from 207.9 million baht, or 34 satang per share.

As of Aug. 7, US$1 was equivalent to 35.16 baht.