Buriram Sugar Public Company Ltd said its normalized net income for the fourth quarter amounted to a loss of 3.5 million baht, compared with income of 65.2 million baht in the year-earlier period.

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

The normalized profit margin dropped to negative 0.5% from 8.8% in the year-earlier period.

Total revenue totaled 744.5 million baht, compared with 738.4 million baht in the year-earlier period, and total operating expenses grew 22.9% from the prior-year period to 758.5 million baht from 617.3 million baht.

Reported net income fell 96.7% on an annual basis to 3.0 million baht, or 0 satang per share, from 91.1 million baht, or 12 satang per share.

For the year, the company's normalized net income totaled 23 satang per share, a fall of 15.6% from 28 satang per share in the prior year.

Normalized net income was 190.4 million baht, a rise of 6.7% from 178.4 million baht in the prior year.

Full-year total revenue rose 7.8% from the prior-year period to 4.23 billion baht from 3.92 billion baht, and total operating expenses rose 8.3% on an annual basis to 3.84 billion baht from 3.55 billion baht.

The company said reported net income rose 15.3% on an annual basis to 272.0 million baht, or 33 satang per share, in the full year, from 236.0 million baht, or 37 satang per share.

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