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Seafresh Industry Q3 profit climbs 77.9% YOY

Seafresh Industry PCL said its third-quarter normalized net income came to 18 satang per share, a gain of 77.3% from 10 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 82.1 million baht, a gain of 77.9% from 46.1 million baht in the year-earlier period.

The normalized profit margin rose to 4.4% from 2.2% in the year-earlier period.

Total revenue declined 10.0% on an annual basis to 1.87 billion baht from 2.07 billion baht, and total operating expenses declined 13.0% year over year to 1.75 billion baht from 2.02 billion baht.

Reported net income grew 94.0% on an annual basis to 133.8 million baht, or 29 satang per share, from 68.9 million baht, or 15 satang per share.

As of Nov. 12, US$1 was equivalent to 35.85 baht.