PLANB Reports a Drop of 81% in 2020 Profit after Taking a Heavy Hit in 2Q from Covid-19
PLANB Reports a Drop of 81% in 2020 Profit after Taking a Heavy Hit in 2Q from Covid-19 Outbreak.
Plan B Media Public Company Limited (PLANB) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;
PLANB reported a net profit of 140 million baht in 2020, decreased 81.13% from a net profit of 743 million baht in 2019. The decrease was mainly due to the impact of coronavirus outbreak in 2Q.
The company reported its operating revenue for FY2020 of 3,724 million baht, representing a decrease of 1,137 million baht or 23.4% compared to the same period last year. Adverse impacts from COVID-19 crisis and other economic uncertainties caused a material decrease in advertising spending and lower revenue for out-of-home media and engagement marketing businesses.
