Surapon Foods Public Company Ltd said its normalized net income for the fourth quarter came to 8 satang per share, a gain of 35.8% from 6 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 22.9 million baht, a gain of 35.8% from 16.8 million baht in the prior-year period.

The normalized profit margin increased to 1.6% from 1.2% in the year-earlier period.

Total revenue decreased year over year to 1.31 billion baht from 1.38 billion baht, and total operating expenses fell 8.2% year over year to 1.20 billion baht from 1.30 billion baht.

Reported net income fell 16.1% year over year to 51.3 million baht, or 19 satang per share, from 61.2 million baht, or 23 satang per share.

For the year, the company's normalized net income totaled 22 satang per share, a fall of 8.9% from 24 satang per share in the prior year.

Normalized net income was 60.1 million baht, a fall of 8.9% from 66.0 million baht in the prior year.

Full-year total revenue amounted to 5.01 billion baht, compared with 4.98 billion baht in the prior year, and total operating expenses fell on an annual basis to 4.68 billion baht from 4.76 billion baht.

The company said reported net income totaled 172.0 million baht, or 64 satang per share, in the full year, compared with 172.3 million baht, or 64 satang per share, the prior year.

As of Feb. 26, US$1 was equivalent to 35.74 baht.