RS’s 2Q Profit Falls 45% due to a Decrease in Revenue from MPC Businesses and TV Channels

RS Public Company Limited (RS) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The consolidated financial statements of RS for the second quarter of 2019 show net profit attributable to the parent company in the amount of THB 95.2 million or 44.70%, which dropped from the same period in the previous year by THB 76.9 million, however, there was an extraordinary item (before tax) totaling THB 94.6 million booked in the second quarter of 2018, resulting in a decrease of THB 1.2 million or 1.3%. It also dropped by THB 15.0 million or 13.6% QoQ. 

This was from a decrease of revenue from multi-platform (MPC) business only from inbound sales during the important royal ceremonies period and revenue from Channel 8 and satellite television decreased from the impact of the whole industry. 

In 2Q2019, there was an amendment bill in the compensation for employees, resulting in higher expenses of employee benefits booked totaling THB 26.5 million, including items under the cost of sales and services of THB 6.4 million and underselling and administrative expenses of THB 20.1 million.