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MK Restaurant profit misses consensus by 40.8% in Q3

MK Restaurant Group PCL said its third-quarter normalized net income amounted to 31 satang per share, compared with the S&P Capital IQ consensus estimate of 52 satang per share.

EPS declined 30.1% year over year from 44 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 282.9 million baht, a decrease of 30.0% from 404.2 million baht in the year-earlier period.

The normalized profit margin fell to 8.0% from 10.8% in the year-earlier period.

Total revenue fell 5.9% year over year to 3.53 billion baht from 3.75 billion baht, and total operating expenses fell year over year to 3.13 billion baht from 3.16 billion baht.

Reported net income decreased 29.7% year over year to 367.5 million baht, or 40 satang per share, from 522.9 million baht, or 57 satang per share.

As of Nov. 11, US$1 was equivalent to 35.84 baht.