MCOT yesterday posted a consolidated first-quarter net profit of Bt352 million, up 21.5 per cent year on year, thanks to an increase in television-ad revenue.
The company said revenue from its television and radio operations amounted to Bt989 million, up 23.32 per cent year on year.
Bualuang Securities recommended "buy" on MCOT shares, saying the company should post an even higher second-quarter net profit, again on rising television-commercial revenue. The World Cup will also prove a benefit.
That tournament and the traditional high season for ad spending in the second quarter will influence MCOT's earnings favourably, the research house said.
Bualuang said MCOT's ad-rate revamp in January, increased revenue from news programmes, its Star 6 programming and organising two events helped boost MCOT's first-quarter earnings.
ACNeilsen said MCOT and Channel 7 were the top two television channels in terms of ad spending, both growing 25 per cent year on year. They were followed by BEC World, operator of Channel 3, up 8.1 per cent, and Channel 5, up 5.2 per cent.
Despite the political turmoil, MCOT executives insisted last month's revenue growth would reach double digits.