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IT CITY swings to profit in Q2

IT CITY Public Company Ltd said its second-quarter normalized net income came to 2.7 million baht, compared with a loss of 6.7 million baht in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 0.2% from negative 0.5% in the year-earlier period.

Total revenue came to 1.23 billion baht, compared with 1.23 billion baht in the prior-year period, and total operating expenses came to 1.23 billion baht, compared with 1.24 billion baht in the year-earlier period.

Reported net income came to 4.9 million baht, or 1 satang per share, compared to a loss of 10.5 million baht, or a loss of 3 satang per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 35.16 baht.