Thai Telecom Firm Posts 7.58 Billion Baht Net Profit in First Half.

Byline: Komsan Tortermvasana

Aug. 1--TOT Corporation yesterday reported a net profit of 7.58 billion baht in the first half of this year and expects even higher earnings under its new business structure in the second half.

However, its plan to list on the stock market by the last quarter of this year remains unclear as the company's executives say they need more time to conduct valuations and due diligence prior to the listing.

TOT marked the first anniversary yesterday of its transformation from a state enterprise into a company made up of eight groups, which are now functioning after a long preparation period.

Sittichai Songpiriyakit, TOT Corporation president, said it would take about three to five months to consult with its financial advisers before a public listing could be considered.

He could not provide a possible range for the share price because the issue of converting concessions and revenue-sharing arrangements with private operators was still not settled.

Mr Sittichai said the company's first-year performance was satisfactory with total revenue in the past six months totalling 30.5 billion baht, of which one-third or 8.5 billion baht came from from concession revenues paid by private operators.