Malaysia’s Media Prima continues earnings momentum
Media Prima Berhad, Malaysia’s largest integrated media group, has recorded a 24 percent increase in profit after tax for the six months of 2022, compared to the same period last year.
Profit after tax for the six months ended 30 June 2022 was RM20.8 million (US$4.65 million) against RM16.8 million for the corresponding period in 2021.
Media Prima said its advertising revenue and content sales continued to be the major contributor to the overall financial performance, with strong and improved momentum across all the group’s businesses.
Driven by Media Prima Omnia, the Group’s media solutions arm, advertising revenue rose by 9 percent group-wide to RM370.5 million (US$82.88 million) in the first half of this year.
The group’s advertising was led by higher contributions from its broadcasting segment – represented by Media Prima Television Networks and Media Prima Audio – which posted a 15 percent revenue increase to RM243.8 million in the period.
Datuk Seri Dr Syed Hussian Aljunid, Group Chairman of Media Prima, said the encouraging growth indicated a recovery in advertising expenditure and reaffirmed Media Prima had become an undisputed leader in the media and entertainment industry.
“Our television channels remain the most watched in the country while our brands are the go-to sources for news and entertainment content among Malaysians. Moving forward, we will continue to hone this competitive advantage.”