10 August 2006
MD&A ended June 30, 2006
Management s Discussion and Analysis on the Company s Operating Results
based on the Financial Statements for the three-month and six-month periods
ended June 30, 2006
Overview of the Company and its Subsidiary Result of Operations
Unit : Million Baht
(Reviewed)
April-June 06 April-June 05 %Change
Total Revenues 1,134 893 27
TV revenues 732 561 30
Radio Revenues 208 146 42
Total Expenses 608 491 24
Net Profit 394 294 34
EPS 0.57 0.43 34
Unit : Million Baht
(Reviewed)
Jan-June 06 Jan-June 05 %Change
Total Revenues 2,080 1,706 22
TV revenues 1,312 1,088 21
Radio Revenues 385 251 53
Total Expenses 1,132 968 17
Net Profit 710 546 30
EPS 1.03 0.79 30
The 27% increase in total revenues were mainly a result of the increase in both
television revenues and radio revenues.
1. Television -the Company was able to increase its own advertising airtime
space and its revenues from the regular programs and seasonal programs such
as the programs involving World Football Cup, The singing contest-The Star.
Furthermore, the revenues from projects have contributed as the additional
sources of revenues such as Education Fund for Undergraduate Program, Election
Promotion Program of the Election Commission of Thailand, Thai Culture Project,
10-days safe drive during Songkarn day and the Southern Crisis Rehabilitation
Project.
2. Radio -The increase in radio revenues came mainly from the continuing
increase in popularity, especially on FM 95, FM 97.5. Specifically, there
were activities such as Concert- The Seed Show,SEED Campus and Lrookthung
Mahanakorn On Tour.And also the radio program on TV, for example, the Seed
on TV program.
The cost of production increased in proportion to the increase in the
self-produced programs to 24% in Q2-2006. Specifically, the increase cost
came from the special Live Programs and also the events and activities to
promote the TV and radio shows. The example of special Live Programs are
such as special programs involving World Football Cup, The preparation for
the 60 Anniversary Celebrations of His Majesty s Accession to the Throne
and the preparation for the Election day. And also the activities and
events by SEED and Metropolis FM 107 and Modernnine Cartoon Tour and
Robot Contest 2006 are such activities for the promotion TV and radio shows.
As a result, the Net Profit increased 34% or Baht 394 million. And the
EPS is Baht 0.57 per share.