True Group profit surges driven by cellular service revenue
True Group’s profitability significantly improved in the first quarter of this year as service revenue grew to Bt25.8 billion driven mainly by solid growth of the cellular service’s revenue, while cost and productivity measures continued to gain traction.
Its operating profit surged to Bt1.5 billion in the first quarter of this year, five times higher than the same period last year, driving net profit to Bt1.5 billion compared to a loss of Bt673 million in the first quarter of the year 2018.
True Corporation Plc president Dr Kittinut Tikawan said late on late Monday that the solid performance was achieved as the company continued to place importance on cost and productivity measures as well as on targeted marketing campaigns that match consumers’ needs.
The cellular business was the leading growth driver, with service revenue increasing 7.6 per cent year-over-year in the first quarter 2019 compared to a 3.5 per cent contraction by our primary competitors combined, he said.
TrueOnline maintained its competitive edge in the broadband internet market with value-driven FTTH and 1 Gbps propositions attracting more high-quality subscribers, said Kittinut.
Meanwhile, TrueVisions continued to add value to True Group’s multiple platforms, particularly TrueID, according to a company release.
The establishment of True Digital Group, combining digital media and privilege platforms, internet of things (IoT), analytics and other digital offerings, affirmed the company’s determination to proactively build a comprehensive digital ecosystem that will be a key growth driver for True Group in the foreseeable future, Kittinut said.