True’s losses bigger than expected

27 Feb 2006

Thai telecoms group True Corp reported a net loss of THB4.27 billion (USD109 million) last year, compared with a net profit of THB604.9 million (USD15.4 million) in 2004. Analysts had predicted True’s losses to be around THB1.5billion, but its bottom line was severely affected by a jump in expenses, which soared to THB31.69 billion in 2005 from THB24.13 billion a year earlier, as well as a foreign exchange loss of THB146 million, compared to a gain of THB255.3 million in 2004. True’s 2005 turnover was THB43.91 billion, up by 33% from THB33.01 billion.

Thailand, True Corp