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Yuasa Battery (Thailand) swings to profit in Q2

Yuasa Battery (Thailand) PCL said its normalized net income for the second quarter came to 9 satang per share, compared with a loss of 8 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 9.8 million baht, compared with a loss of 8.9 million baht in the year-earlier period.

The normalized profit margin rose to 2.4% from negative 2.0% in the year-earlier period.

Total revenue decreased 7.9% on an annual basis to 412.6 million baht from 448.2 million baht, and total operating expenses declined 14.1% on an annual basis to 399.0 million baht from 464.7 million baht.

Reported net income totaled 16.0 million baht, or 15 satang per share, compared to a loss of 14.6 million baht, or a loss of 14 satang per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to 35.12 baht.