Leading broadcaster MCOT posts 32% net profit growth in Q2

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BANGKOK, Aug 16 – MCOT Public Company Limited, a leading Thai broadcaster and operator of the Modernine TV channel on Tuesday announced revenues of Bt1.52 billion in the second quarter of this year, an 18 per cent growth year-on-year, according to MCOT President Tanawat Wansom.

He said the television broadcasting business (Modernine TV) earned Bt1.026 billion, a 25 per cent rise in income from advertisements in news programmes, political activities and new media business, while earnings from the radio broadcast business sector (MCOT Radio network) were reported at Bt227 million, an increase of 0.5 per cent.

Modenine TV was able to maintain its third place position in rankings of overall audience share, making the average utilisation rate of its prime time and non-prime time programming in the second quarter higher than that in the first quarter.

In addition, revenue from its new media businesses, including managing a satellite TV channel called “Bangkok City Channel” of the Bangkok Metropolitan Administration (BMA) and making a annual contract for distribution of ten satellite television channels via C-Band, MCOT 1 and ASEAN TV also contributed to the Company’s revenue growth.

Radio revenues increased 0.4 per cent during the first six months and rose 0.5 per cent in the second quarter in 2011 compared to the same period last year. Both national and provincial radio stations maintained their market share and customer base, while the revenues of the overall radio industry increased three per cent during the first half of the year, compared to the same period in the previous year.

The company’s net profit in the second quarter of this year was Bt504 million, comprising a 32 per cent rise year-on-year or Bt0.73 per share. Such net profits comprise the net profit of the parent company’s shareholders of Bt 499 million and the net profit in the first half of 2011 of Bt871 million, a 17 per cent increase from the same period last year, or Bt1.27 per share comprising net profit of the parent company’s shareholders of Bt863 million.

The president projected that the MCOT’s total revenues and profits in 2011 will grow at least 10 per cent year-on-year as targeted.

Mr Tanawat added the company may revise this year’s earnings growth after the third quarter’s financial statement is completed.

In the last quarter of this year, Mr Tanawat said that the company expects to earn more revenue from advertising due to an increase in advertising rate beginning in October. The rising rate will correspond to the increased inflation.

In addition, MCOT will revise its overall programme schedule in January 2012.