Siam Global House PCL said its fourth-quarter normalized net income came to 4 satang per share, an increase of 21.2% from 3 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 146.8 million baht, an increase of 21.2% from 121.1 million baht in the year-earlier period.

The normalized profit margin increased to 3.5% from 3.0% in the year-earlier period.

Total revenue increased on an annual basis to 4.20 billion baht from 4.00 billion baht, and total operating expenses rose year over year to 3.94 billion baht from 3.77 billion baht.

Reported net income grew 10.1% from the prior-year period to 189.1 million baht, or 5 satang per share, from 171.8 million baht, or 4 satang per share.

For the year, the company's normalized net income totaled 18 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 23 satang.

EPS rose 28.4% from 14 satang in the prior year.

Normalized net income was 687.0 million baht, a gain of 28.4% from 534.9 million baht in the prior year.

Full-year total revenue increased 8.4% from the prior-year period to 17.37 billion baht from 16.03 billion baht, and total operating expenses grew 7.4% on an annual basis to 16.17 billion baht from 15.05 billion baht.

The company said reported net income rose 25.6% year over year to 880.6 million baht, or 23 satang per share, in the full year, from 701.3 million baht, or 18 satang per share.

As of Feb. 19, US$1 was equivalent to 35.76 baht.