Samart Corp's nine-month revenue, net profit decline
Samart Corporation has announced its consolidated operating results for the first nine months of the year, which showed revenue of Bt14.69 billion and net profit of Bt790 million, down from the same period last year amid the weak domestic and global econo
The business unit that was most affected was the mobile multimedia unit, which generated Bt6.47 billion in revenue and Bt210 million in net |profit. Other business units showed strong earnings, especially the ICT (information and communications technology) solutions unit, which had Bt4.63 billion in revenue and Bt373 million in net profit and secured Bt9 million in pending job contracts.
Samart Corp recently secured a Bt3.2-billion project related to Airports of Thailand’s advance |passenger inspection and screening apps and a project from the Land Department worth more than Bt700 million. The company will bid for projects valued in excess of Bt7 billion in current quarter.
The company expects to sign |new projects worth at least Bt10 billion.
The related business unit reported Bt1.93 billion in revenue. The call centre under the management of One to One Contacts had the highest revenue and profit growth, as well as signing new contracts worth more than Bt800 million. Next year, the company sees revenue surpassing Bt1 billion.
The U-Trans business unit posted Bt2.06 billion in revenue, while the subsidiary Teda Co has signed a contract to construct an upstream power station in southern Bangkok for the Metropolitan Electricity Authority worth more than Bt400 million, for combined project value of more than Bt1 billion.
The mobile multimedia unit was directly adversely affected by the sluggish economy. The i-Mobile division, which sold more than 2.5 million mobile phones, is undergoing business restructuring.
Apart from creating and strengthening the mobile virtual network operator (MVNO) service network by linking up with CAT Telecom and preparing for new business pertaining to online e-commerce, the unit is pursuing sports-marketing opportunities via i-Sport Co. Hence the mobile multimedia unit should recover and attain considerable growth in the near future, Samart says.
