Nation Broadcasting Reports 32% Rise In Q3 Profits

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NBC reports 32% rise in Q3 profits

BANGKOK: -- Nation Broadcasting Corporation (NBC), a subsidiary of Nation Multimedia Group, saw its net profit nearly reach the annualised target following a 32-per-cent increase in its third-quarter net profit.

The parent company, meanwhile, also showed a lower net loss in the third quarter at Bt3.34 million, compared to Bt57.36 million in the same period last year.

NBC President and CEO Adisak Limprungpatanakij, in a press statement, attributed the sharp increase in revenue to the economic recovery, which led to a rise in radio, television and new media advertising revenue.

In the third quarter, revenue reached Bt127 million, up 34.30 per cent from Bt94.63 million in the previous year. The quarterly net profit also rose 32.56 per cent to Bt23.86 million, from Bt18 million. In the statement, NBC referred to analysts' consensus that the company's 2009 net profit is expected to range between Bt40 million to Bt48 million.

"The results exceeded our target, with a growth rate of over 30 per cent. In the third quarter alone, the net profit is higher than the combined results in the first half," he said.

In the first nine months of this year, NBC's net profit was Bt40.91 million, up 31.80 per cent from Bt31.04 million a year earlier. Of the total, Bt17.06 million was reaped in the first six months and Bt23.86 million in the third quarter.

TV advertising revenue in the third quarter increased 38.60 per cent, while radio advertising revenue jumped 165.41 per cent and new media advertisement 484.71 per cent. In the first nine months, revenue rose 32 per cent to Bt336.82 million, from Bt255.17 million a year earlier.

"The advertising revenue rose due to the economic recovery and several corporate activities concerning admission, seminars and tours. These activities were broadcast to a broad range of audience, through our extensive network. This attracted more advertisers," Adisak said.

NBC, whose shares make their debut at the stock exchange tomorrow, has witnessed a constant increase in net profits - Bt10.60 million in 2007 and Bt26.91 million in 2008.

-- The Nation 2009-11-10

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