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Modernform Group profit misses consensus by 41.0% in full year

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

EPS fell 20.3% year over year from 38 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 230.0 million baht, a decrease of 20.3% from 288.6 million baht in the prior-year period.

The normalized profit margin declined to 6.0% from 7.7% in the year-earlier period.

Total revenue rose on an annual basis to 3.80 billion baht from 3.75 billion baht, and total operating expenses increased year over year to 3.44 billion baht from 3.32 billion baht.

Reported net income fell 15.7% on an annual basis to 623.2 million baht, or 83 satang per share, from 739.1 million baht, or 99 satang per share.

As of Feb. 26, US$1 was equivalent to 35.74 baht.