Carabao Group Public Company Ltd said its normalized net income for the fourth quarter was 21 satang per share, a decline of 7.8% from 22 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 206.7 million baht, compared with 207.1 million baht in the prior-year period.
The normalized profit margin dropped to 10.0% from 10.8% in the year-earlier period.
Total revenue grew 8.5% on an annual basis to 2.08 billion baht from 1.91 billion baht, and total operating expenses climbed 10.0% from the prior-year period to 1.72 billion baht from 1.56 billion baht.
Reported net income increased year over year to 288.1 million baht, or 29 satang per share, from 274.8 million baht, or 30 satang per share.
For the year, the company's normalized net income totaled 91 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.33 baht.
EPS rose from 90 satang in the prior year.
Normalized net income was 912.9 million baht, a rise of 34.8% from 677.3 million baht in the prior year.
Full-year total revenue increased on an annual basis to 7.76 billion baht from 7.45 billion baht, and total operating expenses grew year over year to 6.29 billion baht from 6.14 billion baht.
The company said reported net income rose 37.5% year over year to 1.26 billion baht, or 1.26 baht per share, in the full year, from 913.1 million baht, or 1.22 baht per share.
As of Feb. 25, US$1 was equivalent to 35.66 baht.