Thailand's Total Access beats Q2 expectations

BANGKOK, July 13 (Reuters) - Thailand’s Total Access Communication beat expectations on Thursday with a jump of more than 400 percent in second quarter net profit.

Net rose to 743 million baht ($21.89 million) from 141.3 million a year earlier at Total Access, which is controlled by Norway’s Telenor Group.

That marked a larger-than-expected jump from year-earlier results that were hurt by a one-off accounting restructuring.

Strong EBITDA growth, lower regulatory costs and a reduced headset subsidy helped, Total said.

Average revenue per user increased 8.8 percent with revenue from services excluding interconnection charges up 2.3 percent to 16.4 billion baht driven as data revenue offset declining voice revenue.

The company said its customer base fell by 2.9 percent to 23.6 million from last quarter due to the loss of prepaid customers.

It maintained its outlook for 2017 which calls for competition remaining intense, growth from data services and reduced prepaid headset subsidies.

$1 = 33.9400 baht Reporting by Chayut Setboonsarng; editing by Jason Neely