Thai operator True Group recorded robust financials for the final quarter of 2019, as continued mobile subscriber additions helped fuel a double-digit increase in revenue from the unit.
The company posted net profit of THB210 million ($6.7 million), rebounding from a loss of THB2.14 billion in Q4 2018. Group revenue grew 11 per cent year-on-year to THB37.7 billion.
Mobile service revenue increased 11.3 per cent to THB19.9 billion, mainly due to double-digit growth in the post-paid segment and the continued success of a device-bundling campaign, the operator said in an earnings statement.
Product sales grew 38.6 per cent to THB6.99 billion.
Mobile unit True Move added 1.4 million subs in 2019, taking its total to 30.6 million at end-December, of which 8.3 million were post-paid and 22.3 million prepaid. Post-paid APRU edged up to THB468 from THB463 in 4Q 2018.
The company said it was the only player reporting growth in prepaid subscribers, driven by market segmentation strategies, despite intense competition due to the introduction of fixed-speed unlimited data plans.
Revenue at its broadband division was flat at THB9.67 billion, while its IPTV unit’s turnover fell 3.2 per cent to THB3.04 billion.
The company said its strategic moves in digital businesses gained traction and will be key growth drivers in 2020, while a wide range of cost and productivity initiatives are underway to further strengthen profitability.
It said the addition of 2600MHz and 26GHz spectrum won in an auction last month will solidify its network strength through a portfolio covering seven frequency bands with the optimal mix of low-, mid- and high-band frequencies.Subscribe to our daily newsletter Back