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Haad Thip Q3 profit falls YOY

Haad Thip Public Company Ltd said its third-quarter normalized net income came to 2 satang per share, a decrease of 57.1% 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 4.6 million baht, a decline of 57.1% from 10.7 million baht in the prior-year period.

The normalized profit margin dropped to 0.4% from 0.8% in the year-earlier period.

Total revenue grew year over year to 1.30 billion baht from 1.26 billion baht, and total operating expenses climbed on an annual basis to 1.28 billion baht from 1.24 billion baht.

Reported net income fell 58.9% on an annual basis to 8.5 million baht, or 4 satang per share, from 20.6 million baht, or 10 satang per share.

As of Nov. 9, US$1 was equivalent to 35.94 baht.