RS Reports a Decline of 13% in 3Q19 Profit, Expecting Revenue to Rise at Year End

RS Public Company Limited (RS) reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

RS reported a net profit in the third quarter of 2019 at 92.4 million baht, dropped from the same period in the previous year by 14.2 million baht 13.4%. This was due to the reduction of revenue from multi-platform commerce (MPC) business following the overall economic slowdown. A portion of customers has been delaying their purchasing decisions. Revenue from the media business also decreased in accordance with the circumstances affecting the overall industry; however, this was offset by concert revenue in the third quarter, which continued into the fourth quarter.