RS’ 2020 Profit Hits a Record High at ฿528Mn as Revenue from Commerce Grows 18%

RS Public Company Limited (RS) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

RS reported a net profit of 528 million baht, increased 45.39% from a net profit of 363 million baht in 2019. The record-high earnings was contributed by commerce business revenue, a better performance of media business during Covid-19 and effective cost and expenses management in every business.

Revenue from sales and services in 2020 posted 3.77 billion baht which increased from the previous year by 163 million baht or rose by 4.5%. This can be explained according to the following business segments.

Revenue from commerce business in 2020 was 2.38 billion baht, the highest ever recorded and an increase of 18.4% from 2019 at 2.01 billion baht.

Revenue from media business in 2020 was 1.15 billion baht, increased by 7.4% from 2019, which stood at 1.07 billion baht.

The radio industry in 2020 contracted by 24.0 percent compared to the previous year. However, “COOLfahrenheit” remains popular at No. 1 in the Easy Listening category.

Selling and administrative expenses of 1.32 billion baht increased from the previous year by 216.9 million baht or rose by 19.7%. This was mainly due to higher commerce business expenses from purchasing external media, staff cost in line with a higher growth of commerce business and depreciation of the new office space that accommodates the larger telesales staff and new studios.