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GMM Grammy '07 profit up 141%


March 02, 2008 GMM Grammy, Thailand's largest music and entertainment firm, reported a better than expected 141% rise in 2007 net profit on Monday as higher income from films and concerts offset flat music sales. The result beat an average 398.4 million baht profit forecast by six analysts polled by Reuters Estimates. Grammy, valued at $166 million, had a 70% share of Thailand's music market and would benefit from a rebound of domestic consumption, analysts said.

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