Media Prima’s 3Q profit rises 8% yoy to RM64m

by **Cals** Tue 19 Nov 2013, 00:04

Business & Markets 2013

Written by Jeffrey Tan of theedgemalaysia.com

Monday, 18 November 2013 19:11

KUALA LUMPUR (Nov 18): Media Prima Bhd’s net profit rose 8% year-on-year (y-o-y) to RM64 million in the third quarter ended Sept 30, 2013, from RM59 million a year ago.

Revenue climbed 0.5% y-o-y to RM439 million from RM437 million.

In a statement to the stock exchange, the integrated media group declared a second single-tier interim dividend of 3 sen per ordinary share for the financial year ending Dec 31, 2013.

Meanwhile, Media Prima registered cumulative profit of RM151 million from RM136 million a year ago, while revenue raked in RM1.271 billion versus RM1.220 billion a year ago.

The group said the better profit and revenue are mainly attributable to the Non Traditional Advertisers spending.

It said its Television Network rose 7% and 5% in profit and revenue respectively, while its Outdoor Media climbed 8% and 3% in profit and revenue respectively.

Meanwhile, the group’s Print Media saw profit contract 12% y-o-y due to investment in new market to sustain readership, but recorded higher advertising and circulation revenue by 1% due to strong readership in the Malay market.

Furthermore, its Radio Network chalked up higher profit and revenue by 42% and 22% respectively, due to higher sponsorship by the advertisers and government related adspend.

“The momentum is still positive for the year despite the absence of major advertising expenditure friendly events, ”said Media Prima.

“The fourth quarter is expected to experience an increase in our revenue due to the year end annual festivities."