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Thai telecom firm AIS to cut 2014 revenue growth target due to weak economy - CEO
June 19, 2014 / 6:47 AM / 3 years ago

Thai telecom firm AIS to cut 2014 revenue growth target due to weak economy - CEO

BANGKOK, June 19 (Reuters) - Thailand’s largest mobile phone operator Advanced Info Service (AIS) said on Thursday it plans to lower its 2014 revenue growth target from 6-8 percent, citing economic weakness brought on by several months of political crisis.

“The 6-8 percent target was set last year. We have to revise down the number to reflect weak consumption,” Wichian Mektrakarn, AIS Chief Executive told Reuters in a telephone interview by phone.

Weaker consumption and lower mobile device usage dragged the company’s revenue from all services down 1.8 percent in the first quarter, with revenue from voice calls alone falling 12 percent.

AIS, 21 percent-owned by Singapore Telecommunications , is expected to be affected by a delay in the auction of fourth-generation mobile network licences because the company currently has the lowest amount of operating bandwidth among the country’s top three operators. (Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Kenneth Maxwell)

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