TS Flour Mill PCL said its third-quarter normalized net income was 4 satang per share, a decrease of 8.9% from 5 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 12.8 million baht, a decline of 9.0% from 14.1 million baht in the prior-year period.

The normalized profit margin dropped to 3.7% from 5.0% in the year-earlier period.

Total revenue rose 22.4% on an annual basis to 345.5 million baht from 282.3 million baht, and total operating expenses rose 22.7% year over year to 317.2 million baht from 258.5 million baht.

Reported net income decreased 9.2% from the prior-year period to 16.3 million baht, or 6 satang per share, from 18.0 million baht, or 6 satang per share.

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