Thaicom moves into profit
May 14, 2012
By Chris Forrester
Thailand’s satellite operator Thaicom, formerly known as Shin Satellite, has moved from loss into profit helped by revenues from its iPSTAR-1 and Thaicom 5 satellites.
Thaicom on May 14th said it had posted a net profit in Q1 (to March 31st) of Thai Bhat 42 million helped by a gain on foreign exchange of THB 12 million, while the company reported a loss a year ago of THB 166.4 million a year earlier. Revenues were THB 1.95 billion, up 23 per cent from THB 1.58 billion a year earlier on increased revenues from satellite services.
Satellite and satellite-based revenues totalled THB 1.51 billion, up 32.7 per cent on iPSTAR and Thaicom 5 business. However, Thaicom’s DTH segment revenues fell by 11 per cent due to intense local competition.