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Tipco Foods Q4 profit climbs 64.0% YOY

Tipco Foods Public Company Ltd said its normalized net income for the fourth quarter was 33 satang per share, a gain of 64.0% from 20 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 158.6 million baht, a gain of 64.0% from 96.7 million baht in the prior-year period.

The normalized profit margin rose to 8.7% from 8.2% in the year-earlier period.

Total revenue grew 21.2% on an annual basis to 1.42 billion baht from 1.17 billion baht, and total operating expenses climbed 25.1% year over year to 1.54 billion baht from 1.23 billion baht.

Reported net income totaled 192.9 million baht, or 40 satang per share, compared to a loss of 14.0 million baht, or a loss of 3 satang per share, in the prior-year period.

For the year, the company's normalized net income totaled 1.54 baht per share, an increase from 31 satang per share in the prior year.

Normalized net income was 742.3 million baht, a rise from 148.5 million baht in the prior year.

Full-year total revenue fell on an annual basis to 5.34 billion baht from 5.51 billion baht, and total operating expenses fell year over year to 5.48 billion baht from 5.74 billion baht.

The company said reported net income rose on an annual basis to 1.19 billion baht, or 2.46 baht per share, in the full year, from 77.7 million baht, or 16 satang per share.

As of Feb. 23, US$1 was equivalent to 35.75 baht.