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Thaicom Q2 net loss widens, but beats forecasts

Wed Aug 13, 2008 10:04pm EDT

BANGKOK, Aug 14 (Reuters) - Thaicom PCL THCOM.BK, Thailand's only satellite operator, reported a net loss for the second quarter on Thursday, but not as bad as expected, due to foreign exchange losses and falling sales.

The company, originally named Shin Satellite and operator or IPSTAR, the world's largest broadband satellite, posted a net loss of 282 million baht ($8.4 million), or 0.26 baht per share, against a net loss of 83 million baht a year earlier.

Seven analysts polled by Reuters had forecast an average net loss of 445 million baht.

Second-half performance was unlikely to improve, analysts said, citing a lack of progress by iPSTAR in expanding in India and China. ($1=33.65 Baht) (Reporting by Arada Therdthammakun; Editing by Ed Cropley)



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