Khonburi Sugar PCL said its normalized net income for the first quarter came to 31 satang per share, a decline of 33.6% from 47 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 185.6 million baht, a decrease of 33.6% from 279.7 million baht in the prior-year period.

The normalized profit margin declined to 11.1% from 14.9% in the year-earlier period.

Total revenue declined 11.1% year over year to 1.67 billion baht from 1.88 billion baht, and total operating expenses fell from the prior-year period to 1.40 billion baht from 1.44 billion baht.

Reported net income decreased 29.9% from the prior-year period to 261.5 million baht, or 44 satang per share, from 372.9 million baht, or 62 satang per share.

As of May 10, US$1 was equivalent to 35.23 baht.