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Surapon Foods swings to loss in Q1

Surapon Foods Public Company Ltd said its normalized net income for the first quarter came to a loss of 1 satang per share, compared with 1 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 a loss of 3.5 million baht, compared with income of 3.1 million baht in the prior-year period.

The normalized profit margin fell to negative 0.3% from 0.3% in the year-earlier period.

Total revenue rose 29.0% on an annual basis to 1.37 billion baht from 1.06 billion baht, and total operating expenses climbed 18.6% from the prior-year period to 1.25 billion baht from 1.06 billion baht.

Reported net income rose 43.0% from the prior-year period to 18.3 million baht, or 7 satang per share, from 12.8 million baht, or 5 satang per share.

As of May 13, US$1 was equivalent to 35.48 baht.