Bangkok Post rejigs board as loss narrows
Bangkok Post Plc has restructured its board of directors in response to more favourable signs in the group’s second-quarter performance.
The board has appointed Worachai Bhicharnchitr as vice-chairman of the board and vice-chairman of the executive committee.
Ronnachit Mahattanapreut is appointed as a member of the executive committee, while Russell Leighton Kekuewa is chairman of the risk management committee.
The board restructuring is to enable the business to be more responsive to changes as a result of positive signs that emerged in the second quarter, the company’s strongest in years.
Bangkok Post reported a loss of 28.22 million baht in the second quarter of 2018, narrowing from 87.08 million baht in the same period last year, a threefold improvement. This led to a 63.97-million-baht loss in the first half, compared with 119.63 million baht a year earlier.
The rebound is a result of production cost cuts, company restructuring and a search for new business opportunities.
Consolidated revenue amounted to
312.9 million baht in the second quarter, down 2.7% or 8.8 million baht. At the same time, the company trimmed sales and service costs to 251.9 million baht, compared with 275.3 million baht in the year-earlier quarter.
In short, costs declined by 8.5% or 23.4 million baht.