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| Confident of Achieving THB 4,000m Revenue Target, Sustained Growths in 2017/18 |
BANGKOK, May 18, 2017 - (ACN Newswire) - VGI Global Media PCL (SET:VGI), operator of a data centric media hypermarket, announced its operating results for 2016/17, highlighting a 30% YoY rise in revenue, achieved amid shrinking media spending. It attributed the success to the healthy growth in the OOH segment and the recognition of revenue from the acquisition of Rabbit Group companies. In view of a forecasted improvement in media spending this year, its management seek to grow the revenue for 2017/18 to THB 4,000 million.
Mr. Marut Arthakaivalvatee, Vice Chairman of VGI, operator of a data centric media hypermarket, revealed VGI's operating results for 2016/17 (Apr'16 - Mar'17), including a total revenue of THB 3,052 million, increase 30% YoY from THB 2,341 million, despite lower media spending in the market during the year. The growth was driven by the expansion in out-of-home (OOH) media segment covering BTS, Office, Outdoor, Aviation and Activation. Furthermore, VGI recognised revenue from Rabbit Group (BSS and BSSH) and has already benefitted from the synergies after an acquisition.
Net profit decreased from last year to THB 826 million mainly due to the suspension of advertising media services during the national mourning period and one-time rise in selling, general and administrative expenses (SG&A) as a result from domestic and international mergers and acquisition (M&A) deals that were aimed at enhancing VGI's potential and enabling the company to achieve an exponential growth target as set by the 2017/18 plan.
"Amid low media spending over the past year, we managed to record solid growths in revenue across our one-stop Out of Home media platform. We also earned more revenue following the acquisition of MACO and Rabbit Group to enhance our strengths as well as our future performances," he said.
The company's board approved on 16 May 2017 payment of cash dividends for the second half-year results to the shareholders at THB 0.025 per share, or THB 172 million in aggregate (subject to final approval by the shareholders on 6 July 2017). This means that the dividends declared for FY2016/17 will total THB 412 million.
The Vice Chairman added that in 2017/18 VGI will earn revenue from the investments made in the previous year and enjoy a forecasted improvement in media spending, which will enable the company to meet the total revenue target of THB 4,000 million (50% from the advertising media within the BTS skytrain network, 25% from OOH advertising media, 15% from Rabbit business and the remainder from the advertising media at office building).
Contact:
Investor Relations Department, VGI Global Media PCL
Tel: +66 2273 8639; 0 2273 8623
E-mail: ir@vgi.co.th
www.vgi.co.th
Released for VGI Global Media PCL
by Public Relations Department,
MT Multimedia Co Ltd
Contact: Orn-arong ("Fah") Pattaravejkul
Tel: +66 2612 2081 #129
Mobile: +66 8 6884 4458
E-mail: orn_tabo@hotmail.com
Topic: Earnings
Source: VGI Global Media PCL
Sectors: Daily Finance, Broadcast, Film & Sat, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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