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Union Auction Q1 profit climbs 30.9% YOY

Union Auction Public Company Ltd said its first-quarter normalized net income amounted to 9 satang per share, a gain of 30.9% from 7 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 47.4 million baht, a gain of 30.9% from 36.2 million baht in the year-earlier period.

The normalized profit margin increased to 24.2% from 22.3% in the year-earlier period.

Total revenue rose 20.5% year over year to 195.6 million baht from 162.3 million baht, and total operating expenses climbed 13.2% on an annual basis to 121.7 million baht from 107.5 million baht.

Reported net income increased 32.1% from the prior-year period to 61.3 million baht, or 11 satang per share, from 46.5 million baht, or 8 satang per share.

As of May 12, US$1 was equivalent to 33.74 baht.