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Textile Prestige Q1 profit climbs 40.2% YOY

Textile Prestige PCL said its normalized net income for the first quarter was 26 satang per share, a gain of 40.2% from 19 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 28.2 million baht, a gain of 40.2% from 20.1 million baht in the year-earlier period.

The normalized profit margin increased to 11.3% from 4.2% in the year-earlier period.

Total revenue fell year over year to 474.2 million baht from 479.2 million baht, and total operating expenses fell from the prior-year period to 443.2 million baht from 456.8 million baht.

Reported net income grew 38.5% from the prior-year period to 43.7 million baht, or 40 satang per share, from 31.6 million baht, or 29 satang per share.

As of May 14, US$1 was equivalent to 33.48 baht.