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Newcity (Bangkok) Q3 profit falls YOY

Newcity (Bangkok) PCL said its third-quarter normalized net income was 10 satang per share, a decline of 66.3% from 29 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 1.4 million baht, a decrease of 66.3% from 4.3 million baht in the prior-year period.

The normalized profit margin fell to 1.0% from 2.8% in the year-earlier period.

Total revenue fell on an annual basis to 150.2 million baht from 154.1 million baht, and total operating expenses totaled 148.5 million baht, compared with 147.9 million baht in the prior-year period.

Reported net income declined 64.1% from the prior-year period to 2.1 million baht, or 14 satang per share, from 5.9 million baht, or 39 satang per share.

As of Nov. 9, US$1 was equivalent to 35.94 baht.