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Union Auction Q4 profit falls YOY

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Union Auction Q4 profit falls YOY

Union Auction Public Company Ltd said its normalized net income for the fourth quarter was 6 satang per share, a decline of 29.3% from 8 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 31.8 million baht, a decrease of 29.3% from 45.0 million baht in the prior-year period.

The normalized profit margin dropped to 17.8% from 22.9% in the year-earlier period.

Total revenue decreased 9.1% year over year to 179.0 million baht from 197.0 million baht, and total operating expenses decreased from the prior-year period to 124.7 million baht from 126.2 million baht.

Reported net income declined 31.8% on an annual basis to 40.5 million baht, or 7 satang per share, from 59.4 million baht, or 11 satang per share.

For the year, the company's normalized net income totaled 27 satang per share, a fall of 6.3% from 29 satang per share in the prior year.

Normalized net income was 147.8 million baht, a fall of 6.3% from 157.7 million baht in the prior year.

Full-year total revenue increased on an annual basis to 718.7 million baht from 709.9 million baht, and total operating expenses rose year over year to 487.3 million baht from 467.2 million baht.

The company said reported net income declined 7.3% on an annual basis to 187.6 million baht, or 34 satang per share, in the full year, from 202.4 million baht, or 37 satang per share.

As of Feb. 26, US$1 was equivalent to 35.74 baht.