Sermsuk PCL said its normalized net income for the second quarter was a loss of 41 satang per share, compared with a loss of 48 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 a loss of 109.2 million baht, compared with a loss of 128.8 million baht in the year-earlier period.

The normalized profit margin increased to negative 3.9% from negative 4.4% in the year-earlier period.

Total revenue declined on an annual basis to 2.81 billion baht from 2.92 billion baht, and total operating expenses decreased from the prior-year period to 3.01 billion baht from 3.15 billion baht.

Reported net income totaled 202.6 million baht, or 76 satang per share, compared to a loss of 149.1 million baht, or a loss of 56 satang per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to 35.12 baht.