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Tropical Canning (Thailand) Q1 profit climbs YOY

Tropical Canning (Thailand) PCL said its first-quarter normalized net income was 9 satang per share, an increase from 8 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 28.3 million baht, a gain from 27.5 million baht in the prior-year period.

The normalized profit margin climbed to 2.4% from 2.2% in the year-earlier period.

Total revenue decreased on an annual basis to 1.20 billion baht from 1.25 billion baht, and total operating expenses decreased from the prior-year period to 1.16 billion baht from 1.20 billion baht.

Reported net income totaled 38.9 million baht, or 12 satang per share, compared to 38.6 million baht, or 12 satang per share, in the prior-year period.

As of May 12, US$1 was equivalent to 33.74 baht.