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Sermsuk Q4 loss narrows YOY

Sermsuk PCL said its normalized net income for the fourth quarter was a loss of 70 satang per share, compared with a loss of 1.67 baht per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 186.5 million baht, compared with a loss of 443.9 million baht in the year-earlier period.

The normalized profit margin rose to negative 7.3% from negative 17.5% in the year-earlier period.

Total revenue totaled 2.57 billion baht, compared with 2.54 billion baht in the year-earlier period, and total operating expenses declined 11.8% on an annual basis to 2.90 billion baht from 3.28 billion baht.

Reported net income came to a loss of 219.5 million baht, or a loss of 83 satang per share, compared to income of 771.9 million baht, or 2.90 baht per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 2.05 baht per share, compared with a loss of 3.21 baht per share in the prior year.

Normalized net income was a loss of 545.9 million baht, compared with a loss of 854.8 million baht in the prior year.

Full-year total revenue grew on an annual basis to 10.72 billion baht from 10.42 billion baht, and total operating expenses declined on an annual basis to 11.69 billion baht from 11.92 billion baht.

The company said reported net income totaled a loss of 304.9 million baht, or a loss of 1.15 baht per share, in the full year, compared with income of 288.1 million baht, or 1.08 baht per share, the prior year.

As of Feb. 24, US$1 was equivalent to 35.69 baht.