T.A.C. Consumer Public Company Ltd said its first-quarter normalized net income came to 11 satang per share, a decline of 18.8% from 13 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 12.9 million baht, an increase of 21.8% from 10.6 million baht in the year-earlier period.

The normalized profit margin rose to 5.8% from 4.2% in the year-earlier period.

Total revenue fell 11.8% on an annual basis to 223.2 million baht from 253.2 million baht, and total operating expenses decreased 14.1% from the prior-year period to 202.2 million baht from 235.3 million baht.

Reported net income grew 24.1% year over year to 16.4 million baht, or 14 satang per share, from 13.2 million baht, or 16 satang per share.

As of May 14, US$1 was equivalent to 33.48 baht.