True turns a profit on asset sale, mobile growth - Mobile World Live

True turns a profit on asset sale, mobile growth

15 AUG 2018

Thailand operator True Group overturned a net loss in Q2 2017 with a profit in the recent quarter due to a one-off asset gain, as its mobile segment grew briskly on strong data and device sales.

Net profit of THB10.4 billion ($311.9 million) in Q2 reversed a THB1.25 billion loss in the comparable 2017 period. The turnaround was largely due to the May sale of assets to the Digital Telecommunications Infrastructure Fund, which has acquired many of True’s tower and fibre resources.

Total service revenue inched up 0.9 per cent year-on-year to THB30.3 billion despite a 9.6 per cent rise in mobile turnover to THB18.4 billion, driven by a 9.8 per cent increase in mobile voice and data revenue. Interconnection sales fell 15.5 per cent, while network rental income dropped 28 per cent.

Product sales jumped more than threefold year-on-year to THB17.5 billion as a result of device bundling promotions. Consolidated revenue grew 40.2 per cent to THB60.2 billion as a result of the asset sale and strong device income.

True Move, the second largest mobile operator, recorded positive ARPU growth in both post paid and prepaid segments: blended ARPU increased to THB213 from THB209.

The operator picked up 446,000 net additions in the quarter, increasing its subscriber base to 28.1 million at end-June. Prepaid subs accounted for 74 per cent of the total.

Data from GSMA Intelligence showed True Move had a 31 per cent market share by subscribers, up 2 points from Q2 2017.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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