Thai Total Access Q2 net profit flat, below forecast
BANGKOK, July 18
BANGKOK, July 18 (Reuters) - Total Access Communication Pcl (TAC), Thailand's second-largest mobile operator, reported a slight increase in in quarterly net earnings on Friday, as rising non voice revenue and lower regulatory cost helped offset weak voice service.
Net profit rose to 2.95 billion baht ($92 million), but lower than the 3.1 billion baht forecast of six analysts polled by Reuters. This compared with 2.94 billion baht a year earlier.
TAC, controlled by Norway's Telenor ASA, previously cut its 2014 revenue growth target to low single digit from 3-5 percent due to the impact from a weakened economy and domestic political unrest.
Earlier, Thailand's military government has postponed for one year an auction for fourth-generation (4G) mobile phone bandwidth, potentially causing billions of dollars of lost investment and sales in a sector that accounts for a tenth of the economy.
TAC said it does not expect any immediate impact from the auction delay because the carrier has sufficient bandwidth to serve its customers. ($1 = 32.1300 Thai Baht) (Reporting by Khettiya Jittapong, editing by William Hardy)
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