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Interhides Q1 profit climbs 7.0% YOY

Interhides Public Company Ltd said its normalized net income for the first quarter was 8 satang per share, a gain of 7.0% from 8 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 41.2 million baht, a gain of 7.0% from 38.5 million baht in the prior-year period.

The normalized profit margin dropped to 6.7% from 8.8% in the year-earlier period.

Total revenue grew 40.9% on an annual basis to 618.6 million baht from 439.1 million baht, and total operating expenses increased 49.0% from the prior-year period to 552.0 million baht from 370.4 million baht.

Reported net income increased 13.6% from the prior-year period to 64.4 million baht, or 13 satang per share, from 56.7 million baht, or 12 satang per share.

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