THURSDAY, March 28, 2024
nationthailand

BTS Group net profit surges 120%

BTS Group net profit surges 120%

BTS Group’s net profit for the 2017-2018 financial year surged 120 per cent year-on-year to Bt4.416 billion on the back of improving performance in all business units, chief executive Kavin Kanjanapas said this week. 

The company reported a Bt14.10-billion increase in operating revenue, up Bt5.49 billion or 64 per cent from the preceding year. 
The results were led by impressive performances in the mass transit business and VGI Global Media but were also supported by a gain of Bt1.88 billion from a property business restructuring.
“With these results, BTS Group has surpassed expectations,” Kavin said, referring to the company’s five-year guidance of net recurring profit to grow 25 per cent per annum on average. 
The growth trajectory is expected to continue as “next year, we are expecting revenue growth of 200 per cent”, said Kavin. 
The company has reaffirmed its 2017 position as Thailand’s leading rail mass transit system operator following the award of both the Pink and Yellow Line concessions and is expected to participate in the bidding process for all high-speed rail and electric rail systems concessions. 
The media business seems set to surpass competition even further with an enviable media ecosystem and as pioneers of offline-to-online solutions.
Meanwhile new investments in Thailand and overseas will be the hallmark of its property business. 
The mass transit business posted total revenue of Bt9.11 billion, increasing Bt4.87 billion or 115 per cent from the previous year. 
The key drivers were organic growth and revenue from services related to the upcoming opening of the BTS Green Line Northern and Southern extensions. 
The media unit earned Bt3.90 billion in revenue, an increase of Bt893 million or 30 per cent year-on-year, thanks to the thriving out-of-home and online media business segment. 
Despite excluding recognition of real estate gains, the company’s net recurring profit still showed outstanding growth of 78 per cent, rising to 2.51 billion.

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