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Newcity (Bangkok) swings to loss in Q2

Newcity (Bangkok) PCL said its second-quarter normalized net income was a loss of 4 satang per share, compared with 16 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 545,370 baht, compared with income of 2.4 million baht in the prior-year period.

The normalized profit margin declined to negative 0.4% from 1.6% in the year-earlier period.

Total revenue climbed year over year to 146.6 million baht from 143.9 million baht, and total operating expenses rose 4.9% year over year to 149.7 million baht from 142.7 million baht.

Reported net income totaled a loss of 108,210 baht, or a loss of 1 satang per share, compared to income of 3.7 million baht, or 25 satang per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 35.12 baht.