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NewsBerjaya Media returns to black in Q2, posts RM1.49 mln pre-tax profit
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Berjaya Media returns to black in Q2, posts RM1.49 mln pre-tax profit
by Cals Thu 26 Dec 2013, 21:54
| Berjaya Media returns to black in Q2, posts RM1.49 mln pre-tax profit |
| Business & Markets 2013 |
| Written by Bernama |
| Thursday, 26 December 2013 19:11 |
KUALA LUMPUR (Dec 26): Berjaya Media Bhd has returned to the black in the second quarter ended Oct 31, 2013, with a pre-tax profit of RM1.485 million, compared with a pre-tax loss of RM26.297 in the same period last year.
Revenue increased to RM14.855 million, from RM10.277 million.
In a filing to Bursa Malaysia, the company attributed the better performance to higher advertising income recorded by its principal operating subsidiary, Sun Media Corporation Sdn Bhd.
"Loss incurred in the preceding year's corresponding quarter, was mainly due to operating loss that gave rise to the impairment loss of publishing rights amounting to RM13 million, coupled with the impairment loss of quoted investments of RM12.04 million," it said.
Moving forward, Berjaya Media said the group continued to operate in a competitive business environment and would continue to focus on improving its advertising revenue.
"We are of view that the group's business for the remaining quarters of the financial year ending April 30, 2014, will continue to be challenging," it added.
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