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Shin Satellite's Q3 net profit falls; Q4 profit in doubt.

Asia Africa Intelligence Wire

| November 10, 2003 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(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, …

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