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Inoue Rubber profit holds relatively steady YOY in fiscal Q1

Inoue Rubber (Thailand) PCL said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to 33 satang per share, compared with 33 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 65.3 million baht, compared with 65.1 million baht in the year-earlier period.

The normalized profit margin climbed to 4.8% from 4.5% in the year-earlier period.

Total revenue declined 5.5% year over year to 1.36 billion baht from 1.44 billion baht, and total operating expenses fell 6.0% from the prior-year period to 1.25 billion baht from 1.33 billion baht.

Reported net income grew on an annual basis to 90.8 million baht, or 45 satang per share, from 88.8 million baht, or 44 satang per share.

As of Feb. 13, US$1 was equivalent to 32.57 baht.