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Tropical Canning (Thailand) Q3 profit climbs 69.2% YOY

Tropical Canning (Thailand) PCL said its normalized net income for the third quarter came to 13 satang per share, an increase of 69.2% from 8 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 44.4 million baht, a gain of 69.2% from 26.2 million baht in the prior-year period.

The normalized profit margin rose to 3.7% from 1.9% in the year-earlier period.

Total revenue fell 15.3% year over year to 1.18 billion baht from 1.40 billion baht, and total operating expenses decreased 15.9% on an annual basis to 1.15 billion baht from 1.36 billion baht.

Reported net income rose 69.9% year over year to 62.8 million baht, or 19 satang per share, from 37.0 million baht, or 11 satang per share.

As of Nov. 12, US$1 was equivalent to 35.85 baht.