Master Ad Public Company Limited or MACO announced its operating performance in Q1 2022/23, achieving significant gains despite the ongoing economic pressure, recording THB 574mn in total revenue, a 17.9% increase YoY, and THB 34mn in net profit. This is largely due to the growth of its System Integration business at 20.0% YoY, with a total revenue of THB 489mn, and the growth of its Advertising business at 7.1% YoY, bringing in a total revenue of THB 85mn.
Commenting on this latest success, Ms. Tamonwan Narinthavanich, acting Chief Executive Officer of MACO, said, “Currently, the global economy is gradually taking a positive turn, thanks to the easing of COVID-19 measures and day-to-day restrictions on the population, along with the re-opening of many countries, which have allowed businesses to recover from the prolonged impact of the pandemic. As has been the case at MACO. Such positive momentum has enabled us to return to making profit once again, getting us off on a good start in 2022/23 after having undergone a restructuring in the past two years. Moving forward, we aim to build on our ongoing success to continue to strengthen our businesses. In Advertising, we plan to expand our Street Furniture network to the BTS’ Gold Line and Saint Louis station and to install additional billboard media in prime locations in Vietnam. As for System Integration, we have seen constant improvement from new installations and maintenance projects of the government and the private sector. We also expect to see further growth from our digital-related business, thanks to our joint venture with Yggdrazil Group Public Company Limited (“YGG”), which is expected to be fully established in Q2 2022/23, and start recognising its performance from Q3 of this year. Moreover, we will strive to explore new opportunities to enhance the value of our existing businesses and achieve sustainable growth. We shall make an announcement in this regard to the investment community once progress has been made.”
“Lastly, as the Thai economy continues to rebound, we are in no doubt that we have made it through the downturn. With our cash-on-hand and positive prospect to receive new funding from the allocation of our warrants no.4 (MACO-W4), we are in a strong financial position to maintain our momentum of success going forward,” added the acting CEO.
