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Somboon Advance Technology profit misses consensus by 34.2% in Q2

Somboon Advance Technology Public Company Ltd said its normalized net income for the second quarter amounted to 18 satang per share, compared with the S&P Capital IQ consensus estimate of 28 satang per share.

EPS rose 66.8% year over year from 11 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 78.3 million baht, a gain of 66.8% from 47.0 million baht in the prior-year period.

The normalized profit margin climbed to 3.9% from 2.5% in the year-earlier period.

Total revenue grew 6.7% year over year to 1.99 billion baht from 1.87 billion baht, and total operating expenses climbed year over year to 1.86 billion baht from 1.77 billion baht.

Reported net income grew 80.9% year over year to 118.1 million baht, or 28 satang per share, from 65.2 million baht, or 15 satang per share.

As of Aug. 9, US$1 was equivalent to 34.90 baht.