Business Services Industry
Thailand Movie Distributor Expects to See Turnaround, Profit.
Knight Ridder/Tribune Business News, June, 2003
By Bamrung Amnatcharoenrit, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Jun. 5--Following the completion of its 600-million-baht debt restructuring last year, CVD Entertainment Plc, the country's largest VCD and DVD movie distributor, is expected to see a major turnaround this year with a net profit of at least 80 million baht.
The positive trend was evident in the first quarter with the company reporting a net profit of 47 million baht, while it expects to earn at least 20 million baht in the current quarter.
Last year, the company recorded a loss of 68 million baht.
Managing director Padet Hongfa yesterday attributed the sharply improved results to several cost-cutting programs, particularly reducing the...
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