Food & Drinks PCL said its first-quarter normalized net income came to a loss of 1.06 baht per share, compared with a loss of 44 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 15.9 million baht, compared with a loss of 6.6 million baht in the year-earlier period.

The normalized profit margin declined to negative 24.4% from negative 7.5% in the year-earlier period.

Total revenue declined 27.0% year over year to 64.9 million baht from 88.9 million baht, and total operating expenses decreased 11.8% year over year to 91.6 million baht from 103.8 million baht.

Reported net income totaled a loss of 19.7 million baht, or a loss of 1.31 baht per share, compared to a loss of 7.3 million baht, or a loss of 49 satang per share, in the prior-year period.

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