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Sri Trang Agro-Industry Q3 profit falls YOY

Sri Trang Agro-Industry PCL said its normalized net income for the third quarter amounted to 17 satang per share, a decrease of 29.8% from 24 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 214.6 million baht, a decrease of 28.3% from 299.2 million baht in the prior-year period.

The normalized profit margin dropped to 1.3% from 1.8% in the year-earlier period.

Total revenue fell year over year to 16.24 billion baht from 16.81 billion baht, and total operating expenses fell on an annual basis to 15.91 billion baht from 16.38 billion baht.

Reported net income fell 23.4% on an annual basis to 349.8 million baht, or 27 satang per share, from 456.4 million baht, or 36 satang per share.

As of Nov. 16, US$1 was equivalent to 35.96 baht.