NMG net profit more than doubles to Bt73 million in first quarter

Duangkamol Chotana, president of NMG, said the group’s quarterly operating profit before the Bt19.19 million income tax stood at Bt93.17 million, recording an increase of 110.77 per cent year on year.

This significant growth has been put down to a 7 per cent increase in print advertising, 22 per cent rise in broadcast adverts and 20 per cent boost in new media advertising, though revenue from events has dropped. Meanwhile, revenue from circulation has risen by 13 per cent thanks to a 57 per cent sale in pocket books and children’s books. Earnings from NMG’s educational ventures have also risen since it was introduced in March last year.

In addition, costs for the first quarter have dropped by 5 per cent compared to the same period last year as the group has been closely monitoring all expenditure.

NMG’s stock closed at Bt2.68 on Friday, down 0.74 per cent from Thursday.

The group’s two listed subsidiaries, Nation Broadcasting Corporation (NBC) and Nation International Edutainment (NINE) have also been showing strong performances.

NBC reported a net profit of Bt22.25 million, up from Bt11.53 million in the same quarter last year thanks to TV advertising, which rose by 8 per cent due to the new channels – Nation and Kom Chad Luek TV – as well as from the Thailand Games Show and Bangkok Election.

Meanwhile, NINE reported net profit of Bt9.9 million against Bt7.8 million year on year.