Tuesday, November 19, 2019

TRUE earns profit of Bt1.8 bn in second quarter

Aug 14. 2019
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By The Nation

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True Corporation (TRUE) reported a profit of Bt1.8 billion for the second quarter, excluding the one-time impact from the amendment of the Labour Protection Law related to employee benefits. 

This was achieved as TRUE’s service revenue rose to Bt26.2 billion, driven mainly by TrueMove H’s growth of 6.3 per cent year-on-year, while its cost optimisation programmes continued delivering positive results affirming the company’s confidence for full-year profit achievement. 

Kittnut Tikawan, co-president of TRUE, said the company continues to enhance subscriber growth and customer engagement. The 1Gbps and FTTH network upgrade, combined with a wide range of digital content and offerings, as well as engaging customers with privilege platforms, has helped drive TrueMove H’s growth, he said.

“We are committed to building a comprehensive ecosystem that serves the increasing needs of consumers and businesses in this cashless and digital era. These, together with improving synergy with our partners should further accelerate our growth and improve financial performance,” Kittinut said.

Fellow co-president, Siripoj Kunakornphan, said TRUE’s focus on micro-level strategies with targeted marketing campaigns and operations as well as digitisation has become more efficient and is contributing to profits this year. Apart from strengthening its network quality thanks to 76,000 base stations and 100,000 TrueMove H Wi-Fi hotspots, TrueOnline has also passed the 15-million household mark in terms of fibre-optic network connections. 

“We believe we are on the right track and our relentless efforts in innovating and developing value-driven products will push our growth higher in the second half,” Siripoj said. 

TrueMove H earned Bt19.5 billion in revenue in the second quarter thanks mainly due to a strong growth in the post-paid segment and average revenue per user growth of more than 3 per cent from the previous quarter. This solid performance was put down to TrueMove H’s targeted marketing campaigns and synergy with device partners, while this position as top network provider continues to gain traction with consumers.

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