UPDATE 1-Thai TAC Q4 net profit up, but misses forecasts

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BANGKOK, Feb 11 (Reuters) - Total Access Communication PCL DTAC.BK (TACC.SI: Quote, Profile, Research, Stock Buzz), Thailand's second-biggest mobile phone operator, said on Monday its fourth-quarter net profit rose a less-than-expected 21.6 percent.

TAC reported a net profit of 1.59 billion baht ($48.2 million), up from 1.31 billion baht a year earlier and 1.36 billion baht in the previous quarter.

The fourth quarter fell short of the 1.95 billion baht forecast by 12 analysts surveyed by Reuters Estimates.

For the whole 2007, the company reported a net profit of 5.84 billion baht, up 18.3 percent from 2006, and said it would pay a dividend of 0.73 baht per share.

In the fouth quarter of 2007, DTAC added another 893,961 subscribers as a result of continuous expansion of its network coverage and distribution channels in rural areas, it said in a statement.

TAC said it signed up a record 3.9 million net new customers in 2007, with its total customer base now at 15.8 million. It expected strong subscriber growth in 2008.

"With the new government in place, we look forward to the recovery of the economy, which will bring back investors' and consumers' confidence," Chief Executive Officer Sigve Brekke said in a statement.

"Strong subscriber growth is expected to continue in 2008 as mobile services are made available to more Thai people," he said.