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Surapon Foods swings to loss in Q2

Surapon Foods Public Company Ltd said its second-quarter normalized net income was a loss of 528,500 baht, compared with income of 8.4 million baht in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.0% from 0.7% in the year-earlier period.

Total revenue increased 13.2% on an annual basis to 1.43 billion baht from 1.26 billion baht, and total operating expenses climbed 8.3% year over year to 1.30 billion baht from 1.20 billion baht.

Reported net income increased 18.1% year over year to 38.4 million baht, or 14 satang per share, from 32.5 million baht, or 12 satang per share.

As of Aug. 11, US$1 was equivalent to 34.73 baht.