Thaicom net profit slides 63% in first quarter

Thaicom made a consolidated net profit of Bt259 million in the first quarter of this year, down 63 per cent from the Bt700 million it posted for the same period of last year, the company said in a statement on Friday.
Paiboon Panuwattanawong, CEO of Thaicom, said the company planned to expand its broadcast services in emerging markets, especially in the Greater Mekong sub-region and in South Asia.
In April, the company signed a four-year, multi-transponder contract with Axiata Group Berhad (Axiata) through a wholly owned subsidiary, Axiata Business Services, for leased capacity and teleport services in Indonesia. Thaicom will be able to recognise revenue from the deal in the second half of 2017.