Letter from the Chairman and Group CEO
The past year, 2019, GMM Grammy proudly delivered operating results yielding the highest net profit in 8 years and resolved to pay dividends for the first time in 8 years. Driven by the success of our core business, music business which saw solid growth in both revenue and profit, proving our strong presence in the industry.
Investments in diverse businesses also reported higher results. Performance of digital TV business improved through our creative content designed to capture audiences nationwide. As for movie business, GDH created successful content for larger audience with top grossing Thai films in 2019. Seeing the potential competitiveness of home shopping business, by end of the year the Company purchased all shares of O Shopping Co., Ltd. from foreign joint ventures. Especially its quality customer base and the continuous trust in O Shopping.
Apart from focusing on business opportunities and strategy implementation. We also put more emphasis on human resource development since human capital is cornerstone of our business. We are committed to good corporate governance and sustainable development. It has been a great pleasure that Thai Institute of Directors (IOD) awarded the company the ‘Five Stars’ rating which represents the ‘highest rank of excellence’ from good governance assessment of the listed company in 2019 which continued for ninth consecutive years so far. By doing so, we hope to enhance our ability to generates higher returns to shareholders in immediate futures
On behalf of the Board of Directors, we would like to express our gratitude to our stakeholders, whether they are our shareholders, customers, business partners, financial institutions, government agencies, media agencies, artists, executives and all employees for all support and contribution. We focus on the Company’s excellence in creative production, service and administration in order to deliver a profitable return to shareholders over the long term and moving forward to develop media and entertainment industry for our nation and society.