MACO announced the performance from January to March 2020, struggling against COVIT-19 for 3 months represented total revenue growth at M 612 Baht. If excluding irregular expenses, the Company will recognize the net profit of M 51 Baht, increasing 25% resulting from the Advertising business which enable the revenue to reach 3.1% accounting to M 270 Baht together with the recognize of the performance in full quarter of Advertising Media business abroad. Whereas the effect of COVID-19 crisis resulting in the revenue of business and service provider for the full cycle of working system, is at M 343 Baht, decreasing 23.6%.
Mr. Phoon Chiong Kit, CEO of Master Ad Public Co., Ltd. or MACO, leader of the Outdoor Media network revealed that : by the resolution of Shareholder’s Meeting on 24 April 2019, MACO will change the accounting cycle by starting new accounting cycle of the beginning of the first Budgeting Year in April to March from the previous cycle beginning in January to December.
Whereas the past 3 months ending March 2020, MACO gained the revenue from services M 612 Baht YoY with the economic slowdown affected by the pandemic of COVID-19 starting from the beginning of 2020 while the advertising media business gained the revenue at M 270 Baht, increasing at 3.1% YoY accounts for 44% of the total revenue. The growth of such business unit resulting from the full quarter consolidated financial statement of advertising business services abroad managed by VGI Global media (Malaysia) Sdn. Bhd. (“VGM”) starting August 2019 while the full cycle of services providing proportionately earned 56% shares of the total revenue or M 343 Baht, decreasing at 23.6% YoY. The main factor arising from the above mentioned crisis therefore resulting in the revenue recognition from the project management is decreased.
The directions of the year 2020/2021, it is anticipated that such crisis will affect every business unit so it is the year of challenging including the Advertising media business both in and out of the country as well due to the situation occurred resulted in the quantity of the use of brand products media decreasing. Likewise, the business of full cycle services providing affected by Lock-Down policy is getting more difficult. This also resulting in the delay of the discussion of new longer while currently we cannot predict when the pandemic shall end. However, the Company is following up the situation closely and still insists to maintain the leadership of the Outdoor Media network through the professional management of PlanB according to the same strategy. In addition, the enforcement of the preventive safety measures of prevention to stop the pandemic of the Government Sector delays the proceeding of expansion to overseas market. However, when the situation is clearer, we will go forward in accordance with the strategy of expanding the advertising media network to overseas market like before.
In the past, amidst the crisis, everyone has to face such situation. The Company realizes the significance of safety of employees, customers and every stakeholder, therefore it issued strict preventive safety measure in the organization. Thus, the Company offers advertising space for publicizing how to prevent themselves to stay far away from the decease including provide useful information on the digital screen media with many organizations both government sector and private sector.
Lastly, the Company would like to express our concern and best wishes to everyone in connection with the non-stop fighting against COVID-19 in Thailand to pass through this crisis together. The CEO added.
