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East Coast Furnitech Q3 profit climbs YOY

East Coast Furnitech Public Company Ltd said its third-quarter normalized net income came to 2 satang per share, a decline of 9.4% from 2 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 16.4 million baht, compared with 16.2 million baht in the prior-year period.

The normalized profit margin declined to 4.9% from 5.4% in the year-earlier period.

Total revenue rose 11.6% on an annual basis to 336.3 million baht from 301.3 million baht, and total operating expenses climbed 12.4% from the prior-year period to 301.8 million baht from 268.5 million baht.

Reported net income increased from the prior-year period to 22.5 million baht, or 3 satang per share, from 21.8 million baht, or 3 satang per share.

As of Nov. 12, US$1 was equivalent to 35.85 baht.