True swings to net profit

17 May 2010

Thai quadruple-play telco True Corp swung to a consolidated net profit in the quarter ended 31 March 2010 of THB1.24 billion (USD38.3 million), compared to a net loss of THB131 million a year earlier, on revenues that rose by 1.5% year-on-year to THB15.80 billion. The fixed line, mobile, broadband and pay-TV operator’s report to the Stock Exchange of Thailand showed that financial costs were cut by 82.7% from THB2.40 billion in Q1 2009 to THB416 million a year later, whilst the divisional earnings contribution from the group’s associated companies – including international gateway operations – swung to THB8.91 billion in the first quarter of 2010 from a loss of THB3.88 billion in 1Q09.

Thailand, True Corp