True swings to USD37 million profit

26 Feb 2010

Thai quadruple-play communications group True Corp has reported a net profit for 2009 of THB1.23 billion (USD37 million), a turnaround from 2008’s net loss of THB2.36 billion, as foreign exchange gains boosted its results. Consolidated revenues at the fixed line, mobile, broadband and pay-TV operator reached THB62.47 billion in the full year to the end of December, up 2% from THB61.27 billion the previous year, whilst it cut total expenses by 0.5% to THB61.27 billion. The company posted forex gains of THB1.91 billion in 2009 compared to a negative effect of THB2.89 billion a year earlier.

Thailand, True Corp