MCOT Turns to Record ฿287m of Profit in 2Q, Aiming to Book ฿163m from Returning License

MCOT Turns to Record ฿287m of Profit in 2Q, Aiming to Book ฿163m from Returning License.

MCOT Public Company Limited (MCOT) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

MCOT reported a profit of THB 287 million in 2Q19 and THB 255 million in the first six months of 2019, increased when compared to the same period of last year, partly due to special revenue recognition from the Order of the Chief if National Council for Peace and Order on the Solution for Television and Telecommunication Industries No. 4/2019 given on April 11, 2019 and the Notification on Criteria, Measures and Conditions on Compensation for Returning Digital Terrestrial Channel Operation Licenses of the National Broadcasting and Telecommunication Commission (NBTC) dated May 2, 2019 as well as MCOT’s effective expense management.

In 2Q19, total expenses amounted to THB 649 million, a 15% decrease compared to the same period of 2018 and 2017 and a 1% decrease compared to the previous quarter. TV and radio expenses accounted for 70% of MCOT’s total expenses. The Management of MCOT tried to control and manage the expenses effectively, resulting in the decrease in TV and radio and sales expenses.

 

MCOT also stated that in reference to the Notification of MCOT to the National Broadcasting and Telecommunication Commission (NBTC) on the intention to return the license to operate MCOT Family 14, a digital terrestrial TV channel on kids, youth and family in standard-definition submitted on May 10,2019.

The NBTC has issued a formal letter No. 2412/23197.24 dated August 6, 2019 to MCOT informing of the following points:
1) Approval of the return of the license to operate MCOT Family 14 (license No. B1 S20031 0023 57 and broadcast termination date effective on September 16, 2019 at 00.01
2)Approval of compensation for the return of such license of THB 163,298,367.32, to be paid to MCOT within 60 days after termination date (September 16, 2019)

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