Taokaenoi Food & Marketing PCL said its first-quarter normalized net income came to 4 satang per share, a gain from 4 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 40.8 million baht, an increase of 66.2% from 24.6 million baht in the prior-year period.

The normalized profit margin increased to 5.8% from 4.2% in the year-earlier period.

Total revenue rose 21.4% on an annual basis to 701.8 million baht from 578.2 million baht, and total operating expenses grew 18.3% year over year to 632.0 million baht from 534.4 million baht.

Reported net income increased 71.3% year over year to 51.3 million baht, or 5 satang per share, from 30.0 million baht, or 5 satang per share.

As of May 29, US$1 was equivalent to 33.65 baht.