Thai Wah PCL said its normalized net income for the second quarter came to 54 satang per share, a gain from 21 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 42.7 million baht, an increase from 16.8 million baht in the year-earlier period.

The normalized profit margin increased to 4.1% from 1.9% in the year-earlier period.

Total revenue increased 15.7% on an annual basis to 1.05 billion baht from 905.4 million baht, and total operating expenses grew 11.3% on an annual basis to 996.1 million baht from 895.2 million baht.

Reported net income increased on an annual basis to 54.9 million baht, or 70 satang per share, from 22.6 million baht, or 29 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.