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Khon Kaen Sugar Industry profit misses consensus by 50.5% in fiscal Q2

Khon Kaen Sugar Industry Public Company Ltd said its normalized net income for the fiscal second quarter ended April 30 amounted to 3 satang per share, compared with the S&P Capital IQ consensus estimate of 6 satang per share.

EPS decreased 63.9% year over year from 8 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 120.1 million baht, a decrease of 63.9% from 332.7 million baht in the prior-year period.

The normalized profit margin fell to 3.2% from 8.2% in the year-earlier period.

Total revenue decreased year over year to 3.94 billion baht from 4.06 billion baht, and total operating expenses increased on an annual basis to 3.68 billion baht from 3.58 billion baht.

Reported net income declined 61.5% from the prior-year period to 178.9 million baht, or 4 satang per share, from 464.1 million baht, or 11 satang per share.

As of June 14, US$1 was equivalent to 35.32 baht.