Malaysia’s Media Prima continues strong performance
Malaysia’s largest media group, Media Prima, has posted a profit after tax of RM5.2 million (US$1.18 million) in the first quarter of 2022 – a 26 percent increase over the same period last year.
The group said this marked its continued quarterly profit momentum amid a challenging operating landscape.
Group revenue remained resilient, with a marginal decrease of 3 percent to RM247.5 million (US$56.3 million) in the first quarter, against RM254.5 million in the first quarter last year.
Media Prima’s revenue was backed by a 14 percent increase in advertising revenue, registering RM174.4 million for the period under review, compared to RM152.3 million in the same period a year ago.
Media Prima’s broadcasting segment – represented by Media Prima Television Networks and Media Prima Audio – posted a revenue increase of 28 percent to RM118.3 million (US$26.9 million) in the first quarter, from RM92.5 million in the same quarter last year.
The group’s publishing segment – the New Straits Times Press – also recorded stronger advertising revenue in the quarter against the corresponding quarter.
Datuk Seri Dr Syed Hussian Aljunid, Group Chairman of Media Prima, said: “We are pleased with our results for 1QFY22. This was backed by stronger advertising revenue contributions across all our business segments.
“We are also heartened by the performance of our broadcasting and digital segments which have contributed significantly to the group’s overall revenue.”