Advanced Info Service yesterday reported a 92 percent fall in fourth-quarter 2008 earnings, due to the economic slowdown and a goodwill write-off for a subsidiary.
However, the country's largest mobile operator said its full-year net profit rose 0.7 percent to 16.4 billion baht (US$462 million), versus analysts' forecasts of 16.8 billion (US$473 million).
AIS said its fourth-quarter net profit was 420 million baht (US$11.8 million), down from 5.13 billion (US$144 million) year-on-year and short of an average forecast of 840 million baht (US$23.6 million) in a Reuters survey of 10 analysts.The fourth quarter is normally a peak period for mobile use but this time demand was exceptionally weak as the closure of two Bangkok airports reduced revenue from international calls and roaming services.
AIS was also estimated to have booked a loss of about 3.35 billion baht (US$94.4 million) for goodwill relating to network impairment in the quarter, hitting its bottom line.
AIS shares (ADVANC) closed yesterday on the Stock Exchange of Thailand at 77 baht (US$2.16), up one baht (US$0.03), in trade worth 155.54 million baht (US$4.38 million).
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