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Newcity (Bangkok) Q4 profit falls YOY

Newcity (Bangkok) PCL said its fourth-quarter normalized net income was 19 satang per share, a decrease of 51.1% from 39 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 2.8 million baht, a decline of 51.1% from 5.8 million baht in the prior-year period.

The normalized profit margin dropped to 1.6% from 3.2% in the year-earlier period.

Total revenue decreased on an annual basis to 176.3 million baht from 179.9 million baht, and total operating expenses rose from the prior-year period to 172.6 million baht from 170.7 million baht.

Reported net income declined 93.0% from the prior-year period to 722,910 baht, or 5 satang per share, from 10.3 million baht, or 69 satang per share.

For the year, the company's normalized net income totaled 66 satang per share, a fall of 48.8% from 1.29 baht per share in the prior year.

Normalized net income was 9.9 million baht, a decline of 48.8% from 19.3 million baht in the prior year.

Full-year total revenue totaled 634.3 million baht, compared with 637.1 million baht in the prior year, and total operating expenses increased on an annual basis to 622.4 million baht from 609.0 million baht.

The company said reported net income fell 62.5% on an annual basis to 10.8 million baht, or 72 satang per share, in the full year, from 28.8 million baht, or 1.93 baht per share.

As of Feb. 23, US$1 was equivalent to 35.75 baht.