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Baht/$ 34.04/08 (Bid/Ask)
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13,300
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BROADCASTING
CHADAMAS CHINMANEEVONG
BEC World Plc, the operator of Channel 3, has postponed a plan to increase its airtime rates to early next year due mainly to growing political and economic problems, according to Chatchai Thiamtong, vice-president for finance.
''Initially, we planned to raise the airtime fees in October. But we think it's not the right time for it given growing uncertainties,'' he said yesterday.
However, the company will extend the airtime of popular programmes such as Rueng Den Yen Nee as this will indirectly increase advertising income.
In any case, Mr Chatchai said he was confident the company's revenue and profits would grow in double digits this year.
Its top 10 advertisers kept spending in the second quarter, accounting for 32% of total ad revenues and helping shore up the results for the whole year.
Overall, advertisers increased their spending with BEC by over 25% in the second quarter, with four boosting it by over 50% year-on-year.
''We still believe that the political situation won't turn violent. But if it is prolonged, our revenue growth will eventually be affected,'' Mr Chatchai said.
In the second quarter of 2008, BEC's net profit increased by 27.3% year-on-year to 749 million baht on revenue of 2.2 billion. In the first half, it reported a net profit of 1.4 billion baht on revenue of 4.3 billion, compared to profit of 1.1 billion baht and revenue of 3.6 billion baht in the same period of last year.
Mr Chatchai said the company had no plan to buy back its shares even though its prices had dropped around 30% from early this year to 22 baht, compared to the analysts' consensus of 30 baht.
According to AGB Nielsen Media Research, the top three TV ad spenders in the first half are non-alcoholic beverages, automobiles and government campaigns.
BEC shares closed yesterday on the Stock Exchange of Thailand at 22.20 baht, up 20 satang, in trade worth 14.31 million baht.
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