Food Capitals Public Company Ltd said its normalized net income for the fourth quarter was a loss of 4 satang per share, compared with a loss of 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 a loss of 69.7 million baht, compared with a loss of 84.4 million baht in the year-earlier period.

The normalized profit margin climbed to negative 34.7% from negative 55.5% in the year-earlier period.

Total revenue grew 32.1% on an annual basis to 200.9 million baht from 152.0 million baht, and total operating expenses climbed 37.8% year over year to 342.3 million baht from 248.5 million baht.

Reported net income totaled a loss of 185.6 million baht, or a loss of 9 satang per share, compared to a loss of 143.1 million baht, or a loss of 9 satang per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 12 satang per share, compared with a loss of 13 satang per share in the prior year.

Normalized net income was a loss of 233.4 million baht, compared with a loss of 188.7 million baht in the prior year.

Full-year total revenue increased 55.7% year over year to 728.4 million baht from 467.8 million baht, and total operating expenses grew 65.0% on an annual basis to 1.15 billion baht from 695.3 million baht.

The company said reported net income totaled a loss of 270.0 million baht, or a loss of 14 satang per share, in the full year, compared with a loss of 284.9 million baht, or a loss of 19 satang per share, the prior year.

As of Feb. 29, US$1 was equivalent to 35.64 baht.