Oishi Group Public Company Ltd said its normalized net income for the fourth quarter came to 92 satang per share, a decline of 10.5% from 1.03 baht per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 172.2 million baht, a decline of 10.5% from 192.4 million baht in the prior-year period.

The normalized profit margin dropped to 5.2% from 5.5% in the year-earlier period.

Total revenue fell 6.5% year over year to 3.29 billion baht from 3.51 billion baht, and total operating expenses decreased 6.1% on an annual basis to 2.99 billion baht from 3.19 billion baht.

Reported net income fell 16.3% on an annual basis to 245.1 million baht, or 1.31 baht per share, from 292.8 million baht, or 1.56 baht per share.

For the year, the company's normalized net income totaled 2.50 baht per share, a gain of 42.8% from 1.75 baht per share in the prior year.

Normalized net income was 468.5 million baht, a gain of 42.8% from 328.2 million baht in the prior year.

Full-year total revenue grew from the prior-year period to 12.99 billion baht from 12.51 billion baht, and total operating expenses grew on an annual basis to 12.15 billion baht from 11.92 billion baht.

The company said reported net income rose 35.7% on an annual basis to 712.2 million baht, or 3.80 baht per share, in the full year, from 524.9 million baht, or 2.80 baht per share.

As of Feb. 25, US$1 was equivalent to 35.66 baht.