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Vichitbhan Palmoil swings to loss in Q2

Vichitbhan Palmoil Public Company Ltd said its second-quarter normalized net income amounted to a loss of 3 satang per share, compared with 4 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 24.0 million baht, compared with income of 41.4 million baht in the year-earlier period.

The normalized profit margin declined to negative 7.8% from 6.2% in the year-earlier period.

Total revenue decreased 53.9% year over year to 307.0 million baht from 666.2 million baht, and total operating expenses decreased 42.8% year over year to 339.4 million baht from 593.8 million baht.

Reported net income came to a loss of 39.3 million baht, or a loss of 4 satang per share, compared to income of 59.6 million baht, or 6 satang per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 34.73 baht.