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Ichitan Group profit misses consensus by 26.0% in Q1

Ichitan Group Public Company Ltd said its normalized net income for the first quarter came to 16 satang per share, compared with the S&P Capital IQ consensus estimate of 22 satang per share.

EPS rose 28.7% year over year from 13 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 211.6 million baht, an increase of 67.3% from 126.5 million baht in the year-earlier period.

The normalized profit margin climbed to 11.4% from 8.4% in the year-earlier period.

Total revenue grew 24.2% on an annual basis to 1.86 billion baht from 1.50 billion baht, and total operating expenses rose 19.8% from the prior-year period to 1.50 billion baht from 1.25 billion baht.

Reported net income increased 56.3% year over year to 316.4 million baht, or 24 satang per share, from 202.4 million baht, or 20 satang per share.

As of May 13, US$1 was equivalent to 33.55 baht.