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President Bakery Q2 profit climbs 18.6% YOY

President Bakery Public Company Ltd said its second-quarter normalized net income came to 51 satang per share, a gain of 18.6% from 43 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 229.0 million baht, a gain of 18.6% from 193.1 million baht in the prior-year period.

The normalized profit margin climbed to 12.4% from 11.0% in the year-earlier period.

Total revenue rose 5.0% year over year to 1.84 billion baht from 1.76 billion baht, and total operating expenses grew from the prior-year period to 1.47 billion baht from 1.44 billion baht.

Reported net income grew 17.9% on an annual basis to 331.1 million baht, or 74 satang per share, from 280.7 million baht, or 62 satang per share.

As of Aug. 11, US$1 was equivalent to 34.73 baht.