Sales up 21% at Triple T Broadband

13 Feb 2014

Thai telecoms group Jasmine International has reported that its consolidated annual revenues rose by 7.3% in 2013 to THB11.123 billion (USD341 million), up from THB10.369 billion in 2012. The group’s triple-play broadband network operator Triple T Broadband (TTTB) posted FY 2013 net revenues of THB9.542 billion (or 85.4% of Jasmine’s total net turnover), up by 21% from THB7.873 billion in 2012 (75.9% of Jasmine’s total turnover that year), driven by increasing broadband/IPTV/VoIP subscribers in provinces around the country – although TTTB does not issue actual customer figures. TTTB’s operating profit reached THB6.321 billion in 2013, up from THB5.096 billion the previous year, accounting for 95% of Jasmine’s consolidated FY13 operating profit of THB6.648 billion (up from THB5.683 billion in 2012). As a whole, the Jasmine group’s annual net profit climbed 48% to THB3.0 billion.

Jasmine also noted in its end of year report the progress of its plan to list an infrastructure fund, following the trend of other operators including True Corp. On 25 November 2013 Jasmine’s shareholders passed a resolution approving the sale of certain broadband infrastructure assets to an infrastructure fund. The net book value of the assets to be disposed will be approximately THB10 billion, although the final selling price is yet to be set.

Thailand, Jasmine International Group, Triple T Broadband (3BB)