WORK Jumps Nearly 17% to Bt22.30 after Showing an Outstanding 1Q21 Earnings
After a long drought in TV programs business, WORK finally made an outstanding performance in 1Q21 with an uptick in revenue of TV programs.
The share price of Workpoint Entertainment Public Company Limited (WORK) rose ฿3.20/share or 16.75% to ฿22.30/share with a trading value of 433.94 million baht as of 12:03 local time in Thailand on May 13, 2021, despite a plummet in SET Index by 13 points or 0.84%.
WORK reported an outstanding 1Q21 net profit of 117 million baht, increased 154% from a net profit of 46.30 million baht in 1Q20. The company has been struggling in the past few years due to lower revenue, especially from TV programs.
In 1Q21, revenue from television programs, comprised of advertising and promotion during each broadcasting and other online media channels, grew 11% to 555.84 million baht. The company stated that the increase was mainly from the increase of revenue from WORKPOINT TV. Since the end of 2020 until the first quarter of 2021, WORK had increased many new TV programs such as “The Wall Song”, “The First and Last Thailand”, which received positive response from the audiences.
Moreover, the company had total cost in 1Q21 at 306.11 million baht, representing a decrease of 12% due to efficient cost management in TV programs.