Mixed bag for broad­cast­ers as Work­point leads earn­ings

Bangkok Post - - BUSINESS - DARANA CHUDASRI

Na­tion Broad­cast­ing Cor­po­ra­tion (NBC) and Chan­nel 3 op­er­a­tor BEC World Plc were hit hard­est by the pro­lif­er­a­tion of TV chan­nels and tepid ad­ver­tis­ing in the third quar­ter, while Work­point En­ter­tain­ment Plc was the big gainer among listed firms in the broad­cast­ing sec­tor.

MAI-listed NBC re­ported a third-quar­ter net loss of 598.52 mil­lion, widen­ing from 58.25 mil­lion in the same quar­ter a year ear­lier, with a nine-month net loss of 718.17 mil­lion baht, wors­en­ing from 174.39 mil­lion a year ago.

The loss was driven by higher costs and ex­penses in­curred by a vol­un­tary res­ig­na­tion plan of­fered to em­ploy­ees and a sub­sidiary’s im­pair­ment loss from a dig­i­tal ter­res­trial TV li­cence.

MAI-listed News Net­work Cor­po­ra­tion Plc, which runs Spring News Chan­nel, re­ported a third-quar­ter net loss of 99.356 mil­lion baht, nar­row­ing from 125.09 mil­lion in the year-ear­lier quar­ter, with a nine-month net loss of 363.31 mil­lion baht, im­prov­ing from 394.12 mil­lion last year.

SET-listed Amarin Print­ing and Pub­lish­ing Plc, the par­ent firm of Amarin Tele­vi­sion Co, re­ported a third-quar­ter net loss of 14.26 mil­lion baht, eas­ing from 126.26 mil­lion in the same pe­riod last year. The net loss for the nine-month pe­riod also nar­rowed to 185.08 mil­lion baht from 468.93 mil­lion.

Amarin said third-quar­ter rev­enue rose 81.1% year-on-year to 572.69 mil­lion baht as a re­sult of a con­tin­u­ous in­crease in in­come from the dig­i­tal TV busi­ness of Amarin TV HD chan­nel, which en­joyed growth in rat­ings.

For the first nine months, Amarin recorded rev­enue of 1.51 bil­lion baht, up 21.4% year-on-year, due to in­creases in print (41.6%), fairs (82.8%), TV (117.5%) and dig­i­tal (412.2%).

Among the gain­ers, SET-listed Work­point re­ported a net profit of 379.97 mil­lion baht in the third quar­ter, up from 108.01 mil­lion a year ear­lier. For the first nine months, net profit rose to 926.14 mil­lion baht from 270.63 mil­lion in the same pe­riod last year.

Work­point said third-quar­ter rev­enue to­talled 1.16 bil­lion baht, up 46% year-onyear, with all busi­ness units — TV pro­gram­ming, event mar­ket­ing, and con­certs and plays — see­ing rev­enue in­creases.

SET-listed Mono Tech­nol­ogy Plc, the par­ent firm of Mono Broad­cast­ing Co, which runs the Mono29 chan­nel, re­ported a third-quar­ter net profit of 70 mil­lion baht, up from 10.11 mil­lion in the same pe­riod last year.

The com­pany re­ported a nine-month net profit of 145.46 mil­lion baht against a net loss of 56.98 mil­lion last year.

The re­sults of SET-listed BEC World were less than im­pres­sive, with third-quar­ter net profit fall­ing 86.1% to 34.80 mil­lion baht from 251.14 mil­lion.

For the first nine months, BEC’s profit fell by 69.2% to 396.48 mil­lion baht from 1.29 bil­lion baht in the same pe­riod last year.

To­tal rev­enue of BEC Group in the third quar­ter was 2.75 bil­lion, down 16.4% yearon-year from 3.29 bil­lion. The fall was largely due to fall­ing in­come from ad­ver­tis­ing, con­certs and shows.

GMM Grammy Plc, the par­ent firm of GMM Chan­nel Trad­ing Co, the op­er­a­tor of GMM25 dig­i­tal TV chan­nel, and RS Plc, dig­i­tal Chan­nel 8’s op­er­a­tor, have yet to re­port their earn­ings re­sults to the Stock Ex­change of Thai­land.

Sorrab­hol Vi­ram­e­teekul, a strate­gist at May­bank Kim Eng Se­cu­ri­ties, said con­di­tions for dig­i­tal TV op­er­a­tors have im­proved af­ter the reg­u­la­tor eased the con­ces­sion pay­ment re­quire­ments.

PATIPAT JANTHONG

BEC World Plc, the op­er­a­tor of Chan­nel 3, saw Q3 earn­ings plunge.

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