Chumporn Palm Oil Industry PCL said its fourth-quarter normalized net income came to a loss of 4 satang per share, compared with a loss of 1 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 27.3 million baht, compared with a loss of 7.7 million baht in the year-earlier period.

The normalized profit margin dropped to negative 2.1% from negative 0.8% in the year-earlier period.

Total revenue increased 43.0% on an annual basis to 1.32 billion baht from 919.7 million baht, and total operating expenses increased 46.0% year over year to 1.34 billion baht from 920.6 million baht.

Reported net income totaled a loss of 39.3 million baht, or a loss of 6 satang per share, compared to a loss of 10.2 million baht, or a loss of 2 satang per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 1 satang per share, compared with a loss of 3 satang per share in the prior year.

Normalized net income was a loss of 8.9 million baht, compared with a loss of 17.7 million baht in the prior year.

Full-year total revenue rose 32.3% from the prior-year period to 5.18 billion baht from 3.92 billion baht, and total operating expenses grew 31.6% on an annual basis to 5.15 billion baht from 3.92 billion baht.

The company said reported net income totaled a loss of 16.3 million baht, or a loss of 3 satang per share, in the full year, compared with a loss of 18.3 million baht, or a loss of 3 satang per share, the prior year.

As of Feb. 24, US$1 was equivalent to 34.87 baht.