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Thai Storage Battery Q4 profit climbs 70.9% YOY

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Thai Storage Battery Q4 profit climbs 70.9% YOY

Thai Storage Battery Public Company Ltd said its fourth-quarter normalized net income came to 4.06 baht per share, a gain of 70.9% from 2.38 baht per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 81.3 million baht, a gain of 70.9% from 47.6 million baht in the prior-year period.

The normalized profit margin increased to 6.8% from 3.9% in the year-earlier period.

Total revenue decreased year over year to 1.20 billion baht from 1.21 billion baht, and total operating expenses decreased 5.5% year over year to 1.06 billion baht from 1.12 billion baht.

Reported net income increased 64.1% on an annual basis to 100.4 million baht, or 5.02 baht per share, from 61.2 million baht, or 3.06 baht per share.

For the year, the company's normalized net income totaled 8.80 baht per share, an increase of 14.6% from 7.68 baht per share in the prior year.

Normalized net income was 175.9 million baht, an increase of 14.6% from 153.5 million baht in the prior year.

Full-year total revenue decreased on an annual basis to 4.88 billion baht from 5.08 billion baht, and total operating expenses declined year over year to 4.56 billion baht from 4.76 billion baht.

The company said reported net income increased 7.2% year over year to 219.9 million baht, or 11.00 baht per share, in the full year, from 205.2 million baht, or 10.26 baht per share.

As of Feb. 29, US$1 was equivalent to 35.64 baht.