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President Bakery Q3 profit climbs 13.0% YOY

President Bakery Public Company Ltd said its normalized net income for the third quarter came to 66 satang per share, a gain of 13.0% from 58 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 294.8 million baht, a gain of 13.0% from 261.0 million baht in the year-earlier period.

The normalized profit margin rose to 14.3% from 13.1% in the year-earlier period.

Total revenue climbed on an annual basis to 2.07 billion baht from 2.00 billion baht, and total operating expenses totaled 1.59 billion baht, compared with 1.58 billion baht in the prior-year period.

Reported net income grew 11.7% from the prior-year period to 425.1 million baht, or 94 satang per share, from 380.6 million baht, or 85 satang per share.

As of Nov. 11, US$1 was equivalent to 35.43 baht.