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Siam Global House Q4 profit climbs 80.8% YOY

Siam Global House PCL said its normalized net income for the fourth quarter came to 7 satang per share, an increase of 80.7% from 4 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 265.4 million baht, an increase of 80.8% from 146.8 million baht in the prior-year period.

The normalized profit margin climbed to 6.4% from 3.5% in the year-earlier period.

Total revenue rose 12.4% on an annual basis to 4.70 billion baht from 4.18 billion baht, and total operating expenses rose 7.3% year over year to 4.23 billion baht from 3.94 billion baht.

Reported net income grew 81.1% year over year to 342.4 million baht, or 9 satang per share, from 189.1 million baht, or 5 satang per share.

For the year, the company's normalized net income totaled 30 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 39 satang.

EPS rose 69.1% from 18 satang in the prior year.

Normalized net income was 1.16 billion baht, a gain of 69.1% from 687.0 million baht in the prior year.

Full-year total revenue rose 12.0% year over year to 19.46 billion baht from 17.37 billion baht, and total operating expenses rose 7.9% on an annual basis to 17.45 billion baht from 16.17 billion baht.

The company said reported net income grew 69.8% year over year to 1.49 billion baht, or 39 satang per share, in the full year, from 880.6 million baht, or 23 satang per share.

As of Feb. 21, US$1 was equivalent to 35.05 baht.