(From Thai Press Reports)
Section: Corporate News - Shin Satellite PCL said on Friday its Q3 net profit fell 42% from a year ago on higher marketing expenses and that it's gearing up for a difficult Q4 after a major customer ended a satellite leasing contract.
During Q3 to September, the company's net profit dropped to 205.3 million baht from 355 million baht a year ago. The number was lower than analysts' predictions. DBS Vickers Securities had anticipated Shin Satellite to post a net profit of 245 million baht in Q3.
Shin Satellite's CFO, Tanadit Charoenchan, said the company spent more on marketing activities, as well as technical support, …