Star records higher revenue in third quarter

PETALING JAYA: Star Publications (M) Bhd posted 5.29% lower net profit to RM40.70mil for the third quarter ended Sept 30 compared with a year ago due to a decline in the media group’s revenue from the event, exhibition, interior and thematic segment.

The company said profit before tax was marginally lower at RM52.72mil compared with the RM57.87mil in the corresponding quarter, mainly as a result of higher operating expenses and lower other income.

It added that revenue for the quarter under review was 2.34% higher at RM244.04mil compared with the corresponding quarter a year ago, mainly due to increased contribution from the print and new media segment as well as the broadcasting segment.

For the nine months ended September 2011, the radio broadcasting segment showed a profit of RM7.15mil compared with a loss of RM623,000 in the previous corresponding period.

“Event, exhibition, interior and thematic segment recorded a decline in revenue compared with the corresponding quarter in the preceding year due to the political turmoil in the Middle East which resulted in the cancellation of certain events, especially the Bahrain Formula 1 Grand Prix,” it said.