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Siam Food Products Q3 loss narrows YOY

Siam Food Products PCL said its normalized net income for the third quarter came to a loss of 2.96 baht per share, compared with a loss of 4.17 baht per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 62.1 million baht, compared with a loss of 87.6 million baht in the prior-year period.

The normalized profit margin increased to negative 7.5% from negative 9.2% in the year-earlier period.

Total revenue decreased 12.7% year over year to 828.1 million baht from 948.1 million baht, and total operating expenses declined 22.2% year over year to 858.3 million baht from 1.10 billion baht.

Reported net income totaled a loss of 83.4 million baht, or a loss of 3.97 baht per share, compared to a loss of 136.6 million baht, or a loss of 6.51 baht per share, in the prior-year period.

As of Nov. 16, US$1 was equivalent to 35.96 baht.