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Union Textile Industries Q2 profit falls YOY

Union Textile Industries Public Company Ltd said its second-quarter normalized net income came to 12 satang per share, a decrease of 19.5% from 15 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 5.5 million baht, a decrease of 19.5% from 6.8 million baht in the prior-year period.

The normalized profit margin dropped to 2.8% from 2.8% in the year-earlier period.

Total revenue decreased 22.5% on an annual basis to 185.8 million baht from 239.6 million baht, and total operating expenses declined 22.3% from the prior-year period to 184.5 million baht from 237.4 million baht.

Reported net income decreased 20.6% from the prior-year period to 4.5 million baht, or 10 satang per share, from 5.7 million baht, or 13 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.