Kaset Thai International Sugar Corp. Public Company Ltd said its normalized net income for the first quarter amounted to 9 satang per share, a decrease of 20.1% from 12 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 362.7 million baht, a decline of 5.8% from 385.2 million baht in the prior-year period.

The normalized profit margin declined to 9.5% from 10.5% in the year-earlier period.

Total revenue climbed on an annual basis to 3.83 billion baht from 3.67 billion baht, and total operating expenses climbed 9.9% on an annual basis to 3.28 billion baht from 2.99 billion baht.

Reported net income decreased 8.3% on an annual basis to 540.4 million baht, or 14 satang per share, from 589.4 million baht, or 18 satang per share.

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