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Thai Wacoal Q1 profit climbs 6.8% YOY

Thai Wacoal Public Company Ltd said its first-quarter normalized net income amounted to 54 satang per share, a gain of 6.8% from 51 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 65.4 million baht, a gain of 6.8% from 61.2 million baht in the prior-year period.

The normalized profit margin dropped to 6.7% from 7.1% in the year-earlier period.

Total revenue increased 13.5% year over year to 975.4 million baht from 859.4 million baht, and total operating expenses rose 12.4% on an annual basis to 898.3 million baht from 799.2 million baht.

Reported net income grew 9.7% year over year to 86.0 million baht, or 72 satang per share, from 78.4 million baht, or 65 satang per share.

As of May 11, US$1 was equivalent to 33.71 baht.