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President Bakery Q3 profit climbs 31.1% YOY

President Bakery Public Company Ltd said its normalized net income for the third quarter amounted to 58 satang per share, an increase of 31.1% from 44 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 261.0 million baht, a gain of 31.1% from 199.1 million baht in the prior-year period.

The normalized profit margin increased to 13.1% from 10.9% in the year-earlier period.

Total revenue grew 9.9% on an annual basis to 2.00 billion baht from 1.82 billion baht, and total operating expenses rose 5.3% from the prior-year period to 1.58 billion baht from 1.50 billion baht.

Reported net income increased 31.6% on an annual basis to 380.6 million baht, or 85 satang per share, from 289.1 million baht, or 64 satang per share.

As of Nov. 11, US$1 was equivalent to 35.84 baht.