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Media Prima 1Q net profit negatively flat at RM27m
by Cals Thu 08 May 2014, 19:26
| Media Prima 1Q net profit negatively flat at RM27m |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Thursday, 08 May 2014 17:55 |
KUALA LUMPUR (May 8): Media Prima Bhd reported negatively flat net profit of RM27.0 million for its first quarter ended March 31, 2014, compared to RM27.1 million in the preceding year’s corresponding quarter.
Revenue for the quarter fell 4% year-on-year to RM351.0 million, from RM365.8 million in the previous year.
The group had attributed the fall in revenue during the quarter under review to a “challenging market environment”.
Its television network, radio network and digital media platforms had reported higher revenues for the quarter, but were offset by lower revenue from its print media, outdoor media and content creation.
Going forward, the group expects major events such as the World Cup, the Asian Games, the Commonwealth Games and Visit Malaysia Year to support advertising growth.
“The road for 2014 however will remain challenging as a result of weaker business and consumer sentiments,” said Media Prima.
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