Seafresh Industry PCL said its second-quarter normalized net income was 18 satang per share, a decline of 26.7% from 24 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 80.2 million baht, a decrease of 27.0% from 109.9 million baht in the prior-year period.

The normalized profit margin dropped to 3.7% from 6.0% in the year-earlier period.

Total revenue increased 18.2% year over year to 2.16 billion baht from 1.82 billion baht, and total operating expenses climbed 17.0% from the prior-year period to 1.97 billion baht from 1.68 billion baht.

Reported net income decreased 16.0% on an annual basis to 123.6 million baht, or 27 satang per share, from 147.1 million baht, or 32 satang per share.

As of Aug. 10, US$1 was equivalent to 34.75 baht.