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Airports of Thailand profit misses consensus by 36.5% in fiscal Q4

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Airports of Thailand profit misses consensus by 36.5% in fiscal Q4

Airports of Thailand PCL said its normalized net income for the fiscal fourth quarter ended Sept. 30 was 22 satang per share, compared with the S&P Capital IQ consensus estimate of 35 satang per share.

EPS decreased year over year from 23 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.15 billion baht, a decrease from 3.32 billion baht in the year-earlier period.

The normalized profit margin fell to 22.3% from 26.0% in the year-earlier period.

Total revenue rose 10.5% on an annual basis to 14.12 billion baht from 12.78 billion baht, and total operating expenses climbed 24.0% on an annual basis to 9.27 billion baht from 7.48 billion baht.

Reported net income fell 10.9% on an annual basis to 3.79 billion baht, or 27 satang per share, from 4.25 billion baht, or 30 satang per share.

For the year, the company's normalized net income totaled 1.15 baht per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.51 baht.

EPS rose from 1.04 baht in the prior year.

Normalized net income was 16.44 billion baht, a gain from 14.83 billion baht in the prior year.

Full-year total revenue rose on an annual basis to 54.90 billion baht from 50.96 billion baht, and total operating expenses rose on an annual basis to 29.16 billion baht from 26.97 billion baht.

The company said reported net income grew year over year to 20.68 billion baht, or 1.45 baht per share, in the full year, from 19.32 billion baht, or 1.35 baht per share.

As of Nov. 29, US$1 was equivalent to 32.58 baht.