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Thai Steel Cable fiscal Q4 profit climbs 78.9% YOY

Thai Steel Cable Public Company Ltd said its normalized net income for the fiscal fourth quarter ended Sept. 30 came to 11 satang per share, an increase of 78.9% from 6 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 28.3 million baht, an increase of 78.9% from 15.8 million baht in the year-earlier period.

The normalized profit margin increased to 3.9% from 2.3% in the year-earlier period.

Total revenue rose 5.9% on an annual basis to 722.3 million baht from 682.4 million baht, and total operating expenses rose on an annual basis to 673.0 million baht from 653.1 million baht.

Reported net income rose 79.3% on an annual basis to 45.5 million baht, or 18 satang per share, from 25.4 million baht, or 10 satang per share.

For the year, the company's normalized net income totaled 35 satang per share, an increase of 15.2% from 30 satang per share in the prior year.

Normalized net income was 91.1 million baht, a rise of 15.2% from 79.1 million baht in the prior year.

Full-year total revenue increased year over year to 2.87 billion baht from 2.76 billion baht, and total operating expenses increased year over year to 2.70 billion baht from 2.62 billion baht.

The company said reported net income increased 14.5% on an annual basis to 144.4 million baht, or 56 satang per share, in the full year, from 126.1 million baht, or 49 satang per share.

As of Nov. 24, US$1 was equivalent to 35.76 baht.