VGI Plc, an out-of-home (OOH) media service operator, reported 33.7% year-on-year revenue growth in the second quarter and net profit of 10 million baht.
"Notwithstanding the challenges of Covid-19, VGI was able to maintain operational efficiency and record a 33.7% revenue increase to 596 million baht, as well as a 110% net profit increase to 10 million compared with the same quarter last year," said Nelson Leung, chief executive of VGI.
"During this quarter, we managed to bring in 378 million baht from our OOH segment, an increase of 41.9% year-on-year from 266 million, along with 218 million from digital services, an increase of 21.6%."
For VGI's key business highlights and management outlook, in the OOH advertising segment the company was able to amplify its marketing effectiveness through consumer engagement, utilising all its media platforms, Mr Leung said.
In the payment segment, VGI expanded its digital and online services under the Rabbit Group, with Rabbit LinePay teaming up with KBank to launch Line Points credit card, he said.
In the second quarter, VGI strengthened its ecosystem by acquiring a 51% equity stake in Fanslink Communication Co, a leading importer of Chinese electronics and an e-commerce enabler, said Mr Leung.
"This alliance not only offers a major opportunity for both businesses to expand our capabilities moving forward, but also broadens VGI's ability to add value to our products and services through the consolidation of Fanslink's premium products and VGI's ecosystem," he said.
