NATION GROUP: 110MB LOSS IN FIRST HALF

Nation Multimedia Group Public Company Limited has this morning reported an operating loss before tax for the first six months of 2009 of 68.22 million baht. After consideration of losses for income tax, net losses from associate companies and allowances for obsolete stock, the loss for the six month period ending June 30 was 110.93 million baht.
In the same period last year the company showed a 1.11 million baht profit.
In its statement to the Stock Exchange of Thailand the company reports a 21 per cent decrease in sales and services, citing the economic slowdown and political instability. Print advertising revenue dropped 36 per cent and broadcast advertising revenue was down 16 per cent. Revenue from circulation was down 19 per cent, with newspapers dropping 8 per cent while circulation revenue from comic books and pocket books was down 33 per cent. Revenue from new media also dropped 8 per cent.
Revenue from printing, international magazines, distribution and logistics increased by 35 per cent.