Exotic Food Public Company Ltd said its normalized net income for the fourth quarter was 1 satang per share, a decrease of 60.1% from 4 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 5.0 million baht, a decrease of 60.1% from 12.5 million baht in the year-earlier period.

The normalized profit margin fell to 2.7% from 7.3% in the year-earlier period.

Total revenue climbed 9.3% on an annual basis to 186.3 million baht from 170.4 million baht, and total operating expenses grew 5.7% year over year to 168.0 million baht from 158.9 million baht.

Reported net income fell 51.5% on an annual basis to 10.5 million baht, or 3 satang per share, from 21.6 million baht, or 6 satang per share.

For the year, the company's normalized net income totaled 15 satang per share, a fall of 13.1% from 17 satang per share in the prior year.

Normalized net income was 52.7 million baht, compared with 53.0 million baht in the prior year.

Full-year total revenue amounted to 741.9 million baht, compared with 736.6 million baht in the prior year, and total operating expenses grew on an annual basis to 661.4 million baht from 646.2 million baht.

The company said reported net income increased on an annual basis to 87.5 million baht, or 25 satang per share, in the full year, from 85.5 million baht, or 28 satang per share.

As of Feb. 29, US$1 was equivalent to 35.64 baht.