The company said in a filing with the Stock Exchange of Thailand yesterday that the solid profit growth could be attributed to revenue realisation from its five new theatres and a Bt107million gain from disposing of its investment in Siam Future Development.

At the end of last year, Major had 288 screens and 442 bowling lanes. Major recorded sales revenues of Bt5.11 billion in 2006, up 8.33 per cent from Bt4.72 billion the previous year.

Its premium on share capital boosted shareholder equity to Bt4.2 billion, a 43.5percent increase from Bt2.92 billion in 2005.

Major's assets rose to Bt8.78 billion, up 18.8 per cent from Bt7.38 billion in 2005.

The company's board has approved a dividend of 43 satang a share for secondhalf 2006 earnings. Payment will be made on April 30.

It has already paid an interim dividend of 35 satang a share for its firsthalf performance.

Kim Eng Securities has maintained its "longterm buy" recommendation on Major shares.

The broker expects to see significant growth at Major this year and next, due mainly to a strong movie lineup and continued branch expansion.

The company will add about 40 screens and 80 bowling lanes this year.

Kim Eng expects Major to post a normalised profit of Bt628 million this year, representing 17percent growth, with its net profit rising 24 per cent year on year to Bt780 million.

It also expects to see a solid movie lineup this year, including "King Naresuan 2" and "King Naresuan 3", "SpiderMan 3", "Pirates of the Caribbean 3", "Fantastic Four 2" and "Harry Potter 5". Thai movies "The Bodyguard 2" and "Nong Teng Nakleng Phukhao Thong 2" are also slated for release this year.

Earnings growth will also be driven by fullyear contributions from The Esplanade, which has 12 screens and 24 bowling lanes.

Major's average ticket prices have risen to Bt117, from Bt115 last year.