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Thai Wacoal Q4 profit climbs YOY

Thai Wacoal Public Company Ltd said its normalized net income for the fourth quarter amounted to 33 satang per share, an increase from 11 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 40.0 million baht, an increase from 12.7 million baht in the year-earlier period.

The normalized profit margin climbed to 4.2% from 1.4% in the year-earlier period.

Total revenue climbed 9.6% on an annual basis to 995.7 million baht from 908.4 million baht, and total operating expenses climbed 7.6% on an annual basis to 962.6 million baht from 894.2 million baht.

Reported net income grew 50.3% on an annual basis to 61.9 million baht, or 52 satang per share, from 41.2 million baht, or 34 satang per share.

For the year, the company's normalized net income totaled 1.97 baht per share, a gain of 30.9% from 1.51 baht per share in the prior year.

Normalized net income was 236.8 million baht, a gain of 30.9% from 180.9 million baht in the prior year.

Full-year total revenue grew 10.3% year over year to 3.97 billion baht from 3.60 billion baht, and total operating expenses grew 8.5% on an annual basis to 3.75 billion baht from 3.46 billion baht.

The company said reported net income grew 20.8% year over year to 334.4 million baht, or 2.79 baht per share, in the full year, from 276.7 million baht, or 2.31 baht per share.

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