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SPVI Q1 profit climbs YOY

SPVI PCL said its first-quarter normalized net income was 1 satang per share, an increase from 1 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 4.1 million baht, a gain from 4.0 million baht in the year-earlier period.

The normalized profit margin rose to 0.8% from 0.7% in the year-earlier period.

Total revenue fell 8.8% year over year to 504.5 million baht from 553.0 million baht, and total operating expenses declined 8.9% year over year to 497.4 million baht from 546.0 million baht.

Reported net income rose year over year to 5.2 million baht, or 1 satang per share, from 5.2 million baht, or 1 satang per share.

As of May 6, US$1 was equivalent to 33.23 baht.