City Sports and Recreation Public Company Ltd said its normalized net income for the second quarter was 59 satang per share, a decrease of 15.5% from 70 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 12.2 million baht, a decline of 15.5% from 14.4 million baht in the year-earlier period.

The normalized profit margin dropped to 32.9% from 39.7% in the year-earlier period.

Total revenue rose on an annual basis to 37.0 million baht from 36.3 million baht, and total operating expenses climbed 16.8% from the prior-year period to 20.6 million baht from 17.6 million baht.

Reported net income fell 15.6% on an annual basis to 15.7 million baht, or 77 satang per share, from 18.6 million baht, or 91 satang per share.

As of July 28, US$1 was equivalent to 34.85 baht.