Buriram Sugar Public Company Ltd said its normalized net income for the fourth quarter came to a loss of 108.5 million baht, compared with a loss of 3.5 million baht in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 10.0% from negative 0.5% in the year-earlier period.
Total revenue increased 15.6% on an annual basis to 860.6 million baht from 744.5 million baht, and total operating expenses increased 31.9% from the prior-year period to 1.00 billion baht from 758.5 million baht.
Reported net income totaled a loss of 152.1 million baht, or a loss of 19 satang per share, compared to income of 3.0 million baht, or 0 satang per share, in the prior-year period.
For the year, the company's normalized net income totaled 8 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 34 satang.
EPS declined 65.3% from 23 satang in the prior year.
Normalized net income was 66.0 million baht, a fall of 65.3% from 190.4 million baht in the prior year.
Full-year total revenue grew 8.3% from the prior-year period to 4.58 billion baht from 4.23 billion baht, and total operating expenses increased 13.6% on an annual basis to 4.37 billion baht from 3.84 billion baht.
The company said reported net income fell 58.4% on an annual basis to 113.1 million baht, or 14 satang per share, in the full year, from 272.0 million baht, or 33 satang per share.
As of Feb. 24, US$1 was equivalent to 34.87 baht.