Thanulux PCL said its fourth-quarter normalized net income came to 16 satang per share, a decline of 24.7% from 22 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.6 million baht, a decline of 24.7% from 26.0 million baht in the prior-year period.

The normalized profit margin dropped to 3.7% from 4.7% in the year-earlier period.

Total revenue fell 6.4% year over year to 516.2 million baht from 551.5 million baht, and total operating expenses fell on an annual basis to 524.2 million baht from 541.3 million baht.

Reported net income declined 40.8% on an annual basis to 23.1 million baht, or 19 satang per share, from 39.0 million baht, or 33 satang per share.

For the year, the company's normalized net income totaled 99 satang per share, a decrease of 10.7% from 1.11 baht per share in the prior year.

Normalized net income was 118.8 million baht, a fall of 10.7% from 133.1 million baht in the prior year.

Full-year total revenue declined 5.5% year over year to 2.08 billion baht from 2.20 billion baht, and total operating expenses fell on an annual basis to 2.05 billion baht from 2.11 billion baht.

The company said reported net income decreased 16.8% on an annual basis to 173.2 million baht, or 1.44 baht per share, in the full year, from 208.1 million baht, or 1.73 baht per share.

As of Feb. 26, US$1 was equivalent to 35.74 baht.