As announced by the Company on 25 August 2022, the financial year end of the Group has been changed from 31 December to 30 June.
KUALA LUMPUR, 28 February 2024 — Media Prima Berhad (“Media Prima” or the “Group”), Malaysia’s leading and largest integrated media group, announced its financial results for the six months (“1HFY24”) and quarter ended 31 December 2023 (“2QFY24”). Despite industry and economic challenges, the Group achieved a revenue of RM437.7 million and a profit after tax (“PAT”) of RM26.0 million during the six-month period under review.
During the three-month period under review, Group revenue grew by 5% to RM223.8 million against the immediate preceding quarter, driven by an increase in advertising revenue. The positive results affirms the Group’s strategic focus on its 3-year business plan, which is guided by three pillars of growth: content boost, inventory premiumisation, and exploration of new revenue streams.
Datuk Seri (Dr) Syed Hussian Aljunid, Group Chairman of Media Prima, said: “Our resilience in the face of industry challenges is testament to our commitment to deliver value to our shareholders. We will continue solidifying our business by capitalising on the popularity of the Group’s media platforms and brands among advertisers and audiences. While challenges remain, we are optimistic about the future. With strong momentum and clear focus, we’re confident in Media Prima’s continued success.”
Building on this momentum, Media Prima implemented several key initiatives under its strategic plan. These include the launch of the Digital Tower Series at Jalan Cheras by Big Tree, and the upgrade of static assets to the new Digital Tower Series at Persiaran Surian. Big Tree posted a 7% revenue increase in the current quarter against the immediate preceding quarter, demonstrating the rising demand for out-of-home advertising.
Media Prima recorded a significant increase in its digital following among its brands. REV Media Group (“REV”) surpassed over 100 million total followers as of December 2023, solidifying REV’s position as the nation’s leading digital publisher. These initiatives further enhance REV’s advertising capabilities and reach, driving a revenue growth of 10% in the current quarter against the immediate preceding quarter.
Beyond its core business focus, Media Prima continued its commitment to social responsibility through various initiatives. The Group’s public-funded Tabung Kemanusiaan Palestin, Media Prima disbursed over RM1.9 million to reputable non-governmental organisations which included Mercy Malaysia, Malaysian Relief Agency, and Humanitarian Care Malaysia to assist their humanitarian missions in Palestine. This contribution provided, among others, food and clean water, essential medical supplies, and shelter to thousands affected by the conflict. Media Prima would like to thank its generous donors for supporting the fund.
Rafiq Razali, Group Managing Director of Media Prima, added: “We are pleased with our performance and the progress we have made towards achieving our business plan objectives. Our sustained efforts in content boost, inventory premiumisation, and exploring new revenue streams have yielded encouraging developments, generating growth and value for our stakeholders. Moving forward, Media Prima remains committed to delivering high-quality content and pioneering innovative solutions to stay ahead in the ever-evolving media landscape.”
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