Mono Technology swings to a loss in second quarter
Mono Technology has reported to the Stock Exchange of Thailand (SET) that it made a net loss of Bt95.21 million for the second quarter, down from a Bt13.66 million net profit in the same quarter last year.
The company has also reorganised its business structure with the closure of magazine and magazine businesses, and has stopped film production under its T Moment company.
Mono said revenue in the second quarter was Bt613.74 million, down Bt82.59 million, or 11.86 per cent, from the second quarter of last year.
The business group showing the highest decline in revenue is mobile phone services. This group had been divided into entertainment information, such as fortune telling via mobile phones, which posted a 73.55 per cent decline from the same quarter of last year.
Another mobile phone service, Monomax movies on mobiles, showed growth of 27.81 per cent in the second quarter of this year to Bt22.93 million.
However, the company’s overall performance in providing content through mobile phones dropped 73.55 per cent to Bt34.74 million in revenue.
Mono achieved 8.23 per cent growth in revenue at its Mono digital TV business, which earned Bt528.30 million in advertising in the second quarter of this year, up from Bt488.13 million posted in the second quarter of last year.
Mono also reported that the company has reduced its cosst by closing some non-performing businesses: the Mono Play game on mobile, Gossip Star magazine and pocket books.
The company reduced the size of mobile value added service (MVAS) in Thailand, as well as stopped film production under the T Moment company.
T Moment is a 50-50 joint venture between Thai Entertainment and Mono with Bt200 million in registered capital.
