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Fortune Parts Industry Q1 profit climbs YOY

Fortune Parts Industry Public Co. Ltd. said its normalized net income for the first quarter came to 2 satang per share, a gain 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 29.4 million baht, an increase from 28.6 million baht in the prior-year period.

The normalized profit margin declined to 6.7% from 7.8% in the year-earlier period.

Total revenue rose 20.7% on an annual basis to 440.8 million baht from 365.4 million baht, and total operating expenses rose 24.3% on an annual basis to 384.4 million baht from 309.2 million baht.

Reported net income came to 36.2 million baht, or 3 satang per share, compared to 35.6 million baht, or 3 satang per share, in the year-earlier period.

As of May 11, US$1 was equivalent to 33.71 baht.