VGI Global Media revenue rises 5 per cent |in Q1 but net profit surges 44 per cent
VGI Global Media has announced operating revenue of Bt499 million for the first quarter of fiscal year 2015-16, a 5-per-cent increase year on year.
The management stressed its commitment to continue efforts to secure new advertising space.
Chief financial officer Suparanan Tanviruch said the operating results for the first quarter (April-June) yielded operating revenue (exclusive of revenue from the modern-trade segment) of Bt499 million, increasing by Bt13 million, or 3 per cent, from Bt486 million quarter on quarter, and by Bt23 million, or 5 per cent, year on year.
Net profit rose from 34 per cent to 44 per cent because of the firm’s decision to abandon the low-margin modern-trade segment.
Mass transit – advertising media and retail space at the BTS Skytrain stations – remains VGI’s core segment, continuing to be a reliable source of strong growth, weathering the current economic storm. The segment contributes 81 per cent of VGI’s total revenue.
The office-tower segment saw a 29-per-cent year-on-year rise, thanks to the increase in the number of operating office towers from 75 to 103 in late 2014 and the price increase in early 2015, she said.
The company’s executive director and chief executive officer, Marut Arthakaivalvatee, said VGI was seeking partners to expand its advertising media network.
Most recently, he added, Midas Global Media, one of its affiliates, a top player in the LED-screen industry, has installed such screens at clock towers in 10 provincial city centres and started commercialising the advertising space there last month.
