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Siam Food Products swings to loss in Q2

Siam Food Products PCL said its second-quarter normalized net income amounted to a loss of 1.74 baht per share, compared with 50 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 a loss of 36.6 million baht, compared with income of 10.5 million baht in the prior-year period.

The normalized profit margin fell to negative 3.5% from 1.0% in the year-earlier period.

Total revenue came to 1.04 billion baht, compared with 1.04 billion baht in the year-earlier period, and total operating expenses grew year over year to 1.08 billion baht from 1.05 billion baht.

Reported net income came to a loss of 44.9 million baht, or a loss of 2.14 baht per share, compared to income of 14.7 million baht, or 70 satang per share, in the prior-year period.

As of Aug. 17, US$1 was equivalent to 35.53 baht.