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Malaysia’s Media Prima returns to profit

Malaysia’s Media Prima group has reported a profit after tax of RM51.6 million (US$12.28 million) for the year ended 31 December 2021.

It bounced back into the black after reporting a loss of RM18.1 million (US$4.3 million) in 2021.

The group said that despite the challenges of the pandemic, its revenue increased by 8 percent to RM1.1 billion in 2021 against RM1 billion the previous year, backed by stronger advertising revenue supported by the group’s sales arm, Omnia.

“In less than two years since its establishment, Omnia has become an unrivalled leader in the marketplace having successfully integrated Media Prima’s multiple platforms to reach over 98 percent of the Malaysian population to provide clients with unique and holistic sales solutions,” the group said.

Datuk Seri Dr Syed Hussian Aljunid, Group Chairman, said: “FY21 was an outstanding year for us at Media Prima. We are extremely proud of the progress we made as we exceeded many of our FY21 targets ahead of schedule.”

Media Prima operates four television stations and five radio stations as well as newspapers and other interests.