Chief executive Marut Arthakaivalvatee said it had revenue 738 million baht, up by 37% year-on-year.
The key factor driving revenue and net profit growth is advertising on the skytrain - operated by the parent company - both in modern trade media and in-store media.
Advertising revenue on the BTS rose by 79 million baht or 27%, keeping the segment as the highest profit generator in VGI during its most recent quarter.
Mr Marut said since May, VGI has gained more revenue by reducing its concession payment to BTS Group Holdings following a new contract.
Growth in modern trade media is expected to continue over the next two quarters, helping it to maintain healthy results.
"Lifestyle media and in-store media have grown rapidly, as advertisers are satisfied with the increasing brand awareness of consumers," said Mr Marut.
He said the future of lifestyle media is relatively bright this quarter, as consumer behaviour is focused more on lifestyles, and this quarter is the high season for ad spending.
Mr Marut said VGI's core in-store customers comprise modern trade players such as Tesco Lotus, Big C and Watson.
Skytrain extension lines and new routes should also help with revenue.
VGI wants to expand its business in Asean countries such as Laos, Myanmar and Cambodia to tap opportunities in the imminent Asean Economic Community, said Mr Marut.
VGI manages rental space of 6,000 square metres at 23 skytrain stations, in-store advertising for Tesco Lotus, Big C and Watson and digital billboard advertising for 51 office buildings.
VGI listed on the Stock Exchange of Thailand on Oct 11.
It closed yesterday at 68.50 baht, up 5.25 baht, in trade worth 724 million baht.
About the author
- Writer: Nuntawun Polkuamdee
Position: Business Reporter