FRIDAY, March 29, 2024
nationthailand

Plan to move from media to commerce sector in SET

Plan to move from media to commerce sector in SET

Entertainment firm RS is expected to submit a request to the Stock Exchange of Thailand (SET) early next year to move its company’s category from the media sector to the commerce sector, following the remarkable growth of its health and beauty product business, said its chief financial officer Darm Nana.

He added that the business was expected to grow 600 per cent from last year while the category posted nearly 800 per cent growth year on year in the third quarter this year.
Next year the company is expected to see the rise of revenue contribution from its health and beauty product company Life Star to 50 per cent of the group's total revenue, up from 40 per cent at present, he said. 
The contribution from the media business next year is expected to decline to 40 per cent from the present 50 per cent, while that of the music and event businesses will remain unchanged at 10 per cent.
According to RS’ filing to the SET on its 2017 third-quarter performance, the company posted a net profit of Bt123.8 million, a 303-per-cent growth from the same period last year. The health and beauty products business revenue in the third quarter stood at Bt422.8 million, an increase from the same quarter in the previous year and from the previous quarter of Bt373.3 and Bt122.1 million or 754.8 per cent and 40.6 per cent respectively.

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