RS Public Company limited (SET: RS) has announced 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss)
Million Baht |
188.97 | 1,182.41 |
| Earning Per Share
(Baht) |
0.0873 | 0.5527 |
| % Change | -84.02 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
12.21 | 1,366.95 |
| Earning Per Share (Baht) | 0.0057 | 0.6397 |
| % Change | -99.11 | |
RS reported a net profit in 3Q24 of Baht 188.97 million, a THB 993.44 decrease compared to the same period previous year. The decline in profit was mainly due to declining sales.
Total revenue from sales and services for 3Q2024 was 640.2 million baht, a decrease of 20.0% QoQ, primarily due to softened revenue from two core businesses undergoing internal restructuring. Nonetheless, both sectors show potential growth.
The entertainment business is focused on leveraging high-quality content through online platforms to reach younger and international audiences, while the commerce business continues to expand sales through new channels and develop new product lines to meet emerging market demands.
The revenue from Commerce business for 3Q2024 was 323.3 million baht, a decrease of 12.8% QoQ, mainly due to a slowdown in traditional trade channels following the initial high sales of new products launched in the previous quarter. However, sales in this channel are expected to recover in the end year due to seasonal factors. Revenue from other channels, particularly online, continued to grow, with online sales rising by 4.5% QoQ, accounting for 18.0% of total sales, up from 15.0% OoO.
Additionally, pet-related products and services maintained strong growth, with an increase of 46.9% QoQ, due to the popularity of Lifemate brand, which expanded its Superfood pet product line. Hato Pet Wellness, a subsidiary of Pet Medical Group Co., Ltd., has also expanded into animal hospital services, targeting Premium Mass customers and recently opened a new branch at Hato Pet Hospital in Rangsit.
Revenue from entertainment business for 3Q2024 was 316.9 million baht, a decrease of 26.1% QoQ, primarily due to weaker media revenue, a reduction in large concert events, and lower content licensing revenue, which typically have high profit margins.
However, the company is focused on enhancing value through its three main content magnets—’Pak Tong Tong Roo,’ ‘Kon Dang Nang Clear,’ and ‘Channel 8 News’, by presenting them through online platforms to reach a wider audience and adapt to changing media consumption behaviors. This approach leverages existing resources to diversify revenue streams and support long-term business growth.
The company recognized special revenue of 585.5 million baht from the sale of shares in RS UMG Co. , Ltd. to Universal Music Group.
