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Fancy Wood Industries Q2 loss narrows YOY

Fancy Wood Industries Public Company Ltd said its normalized net income for the second quarter was a loss of 2 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 7.1 million baht, compared with a loss of 24.3 million baht in the prior-year period.

The normalized profit margin increased to negative 5.7% from negative 36.2% in the year-earlier period.

Total revenue increased 83.9% on an annual basis to 123.2 million baht from 67.0 million baht, and total operating expenses increased 32.6% from the prior-year period to 144.2 million baht from 108.8 million baht.

Reported net income came to a loss of 11.4 million baht, or a loss of 2 satang per share, compared to a loss of 33.3 million baht, or a loss of 7 satang per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to 35.39 baht.