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Thailand’s True Group boosted by World Cup coverage

Thai media company True Group has posted a net profit of THB385m (€10.4m/$11.7m) for the third quarter of 2018, with its results having been boosted by its coverage of football’s Fifa World Cup in Russia over the summer.

The Telecom Paper website reported that satellite television operator TrueVisions’ service revenue increased by 15.7 per cent year-on-year to THB3.5bn during this period, largely owing to the group’s coverage of the World Cup.

The net profit of THB385m comes after True Group posted a net loss of THB691m in the year-earlier period.

By the end of the third quarter, TrueVisions’ total customer base had also increased to more than four million, with its paying subscribers having risen by 25,000 quarter-on-quarter and 105,000 year-on-year to 2.3 million.