Thai Firm Blames Bad Financials on Copperfield

Thai Firm Ties Loss to CopperfieldRS PCL told Reuters today "it expected
to report a net loss in 2007
after a 155 million baht profit a
year earlier as canceled shows hit earnings."

"Our final quarter improved but won’t be good enough to
cover losses in the previous nine months" caused chiefly by the
cancellation of a show by magician David Copperfield, he said.

RS PCL is Thailand’s second largest entertainment promotion firm.  

Mr. Copperfield canceled his planned Asia tour after the FBI raided his warehouse and magic studio in Las Vegas, Nevada.  Published leaks from a grand jury in Washington state tied the raid to allegations Mr. Copperfield assaulted a woman at his Bahamian private island.

Robin Leach reported yesterday, the FBI has recently returned the items seized in the raid — a sign supporters hope there will be no charges against the magician.

Not withstanding the claimed losses, RS PCL boasted to reporters it "expected its gross margin to rise to 30
percent in 2008 from last year’s 25 percent and planned to
expand into new businesses."

When pressed for more information on the "new businesses" and their expectations, a spokesperson "declined to elaborate."


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