BOL posts decrease in revenues and profits in FY2024

Bangkok, 14th February: Last week, Business Online (BOL), a leading online information service provider in Thailand, reported its financial results for the year ended 31st December 2024. Revenue for the year was US$21 million, representing year-on-year decrease of 7.6%. BOL’s net profit for the year dropped 5.0%, down to US$8.1 million. Diluted earnings per share for the year were Baht 0.34 (US$0.010).

More than 94% of BOL’s revenue was generated from its service business, amounting to US$20 million, a decline of 6.4% year-on-year. The remaining revenue was generated from the dividend income (US$1.3 million) and “other income” (US$7,400).

According to BOL, due to delays in government budget approval, the company and its subsidiaries, especially in terms of revenue from project revenue, declined as the majority of customers for this type of revenue are government.