CS Loxinfo sees profit surge in Q1 from previous quarter but dip year on year
May 14, 2014 00:00
By The Nation
CS LoxInfo's consolidated first-quarter profit rose Bt21 million or 22 per cent from the fourth quarter of last year to Bt118 million, but net profit before an extraordinary item fell by Bt5 million from Bt125 million before an extraordinary item in the f
Net profit was higher quarter on quarter because of lower costs of ICT services and marketing, but lower year on year because of a weakening in the voice info services and mobile-content business. They were crunched by the softening economy, while the business of information and communications technology was only slightly scratched.
The performance improve-|ment comes from the growth of the ISP (Internet service provider) business and voice info and |mobile content business, in parallel with efficiencies in expense |control.
CSL’s first-quarter unconsolidated net profit was Bt59 million or Bt0.10 per share. Its operating profit surged 28 per cent from the same quarter of last year.
The uncertain political situation and softening economy since the last quarter of last year hurt the group’s performance both directly and indirectly, especially for the voice info services and mobile-content business, whose customers are primarily individuals rather than enterprises.
CSL says it will continue to emphasise efficient cost management, conservative risk management and revenue collection. It will focus on maintaining its existing customer base while expanding into only those markets where it has competitive potential.