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Siam Sport Syndicate Q1 loss widens 78.8% YOY

Siam Sport Syndicate PCL said its first-quarter normalized net income amounted to a loss of 14 satang per share, compared with a loss of 8 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 a loss of 51.8 million baht, compared with a loss of 29.0 million baht in the year-earlier period.

The normalized profit margin fell to negative 19.5% from negative 6.3% in the year-earlier period.

Total revenue decreased 41.9% on an annual basis to 265.7 million baht from 457.3 million baht, and total operating expenses declined 33.6% on an annual basis to 332.1 million baht from 500.1 million baht.

Reported net income totaled a loss of 153.4 million baht, or a loss of 41 satang per share, compared to income of 11.1 million baht, or 3 satang per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 35.39 baht.