Post Publishing Plc, the publisher of the Bangkok Post, Post Today and M2F newspapers, reported a consolidated net profit of 126 million baht for 2012, an increase of 150% from 50.6 million in profits reported the year before.
Pre-tax profits jumped 57.5% year-on-year to 168.9 million baht for 2012.
Sales and service revenue rose 21% year-on-year to 2.37 billion baht for 2012, with publishing and advertising revenue up by 20% to 1.98 billion.
The company's broadcasting and media segment revenue rose by 32% year-on-year to 239 million baht.
Chief operating officer Supakorn Vejjajiva attributed the company's strong performance gains to several factors.
First was the overall improvement in advertising revenue for the company's newspapers as well as the full-year operation of M2F, Bangkok's largest weekday freesheet, after launching in the fourth quarter of 2011.
Mr Supakorn said M2F broke even in the fourth quarter of 2012, one year after its launch.
Record profits for the company's leading Elle and Cleo magazines also contributed strongly to the bottom line, with subsidiary Post International Media contributing 58 million baht to total consolidated profits for the firm.
The company plans to launch three new titles _ Forbes Thailand, Fast Bike Thailand and Cycling Plus Thailand _ within the next six months.
Cost of sales and services rose by 24.4% year-on-year to 1.65 billion baht for 2012, with sales expenses up by 13.5% to 304.5 million.
Higher production, distribution and marketing costs were attributed to the full-year operations of M2F. The company also booked a 7.2-million-baht one-time gain for the disposal of equipment.
Directors yesterday approved a final dividend of 50 million baht or 10 satang per share, with the share register closed on May 9 and payment made on May 23.
The company paid an interim dividend of 30 million baht or six satang per share last November.
Hu Yee Cheng Robin, chief executive of the SCMP Group, was also nominated as a director of the company. The board agreed to propose the re-election of Wissanu Krea-ngam, Pramoj Rathavinij, Cheung Hoi Sze Elsie and Chartsiri Sophonpanich as company directors.
Shareholders will meet to vote on the dividend payment and director appointments on April 26, with the share register for attendance closed on March 7.
Shares of POST closed yesterday on the SET at 4.44 baht, up 16 satang, in trade worth 1.23 million baht.