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Lam Soon (Thailand) Q4 profit climbs 31.3% YOY

Lam Soon (Thailand) Public Company Ltd said its normalized net income for the fourth quarter was 7 satang per share, a gain of 31.3% from 5 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 57.6 million baht, an increase of 31.3% from 43.9 million baht in the year-earlier period.

The normalized profit margin climbed to 2.6% from 2.1% in the year-earlier period.

Total revenue climbed on an annual basis to 2.19 billion baht from 2.09 billion baht, and total operating expenses increased year over year to 2.09 billion baht from 2.03 billion baht.

Reported net income declined 18.9% from the prior-year period to 36.9 million baht, or 4 satang per share, from 45.4 million baht, or 6 satang per share.

For the year, the company's normalized net income totaled 34 satang per share, an increase from 33 satang per share in the prior year.

Normalized net income was 276.5 million baht, an increase from 273.1 million baht in the prior year.

Full-year total revenue decreased on an annual basis to 8.29 billion baht from 8.53 billion baht, and total operating expenses decreased year over year to 7.81 billion baht from 7.96 billion baht.

The company said reported net income fell 18.2% year over year to 311.4 million baht, or 38 satang per share, in the full year, from 380.7 million baht, or 46 satang per share.

As of Feb. 26, US$1 was equivalent to 35.74 baht.