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Thai Luxe Enterprises swings to profit in Q1

Thai Luxe Enterprises Public Company Ltd said its first-quarter normalized net income was 8.2 million baht, compared with a loss of 2.8 million baht in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 2.1% from negative 0.6% in the year-earlier period.

Total revenue fell year over year to 453.8 million baht from 473.0 million baht, and total operating expenses decreased 7.7% year over year to 439.8 million baht from 476.3 million baht.

Reported net income came to 10.3 million baht, or 2 satang per share, compared to a loss of 3.9 million baht, or a loss of 1 satang per share, in the prior-year period.

As of May 14, US$1 was equivalent to 33.48 baht.