KUALA LUMPUR: Media Prima Bhd, Malaysia’s leading and largest integrated media group, posted a net profit of RM26.0 million on RM437.7 million revenue for the six months ended Dec 31 2023, despite industry and economic challenges.
During the second quarter alone, group revenue grew 5.0 per cent 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 three-year business plan, which is guided by three pillars of growth: content boost, inventory premiumisation, and exploration of new revenue streams.
Media Prima group chairman Datuk Seri (Dr) Syed Hussian Aljunid said its resilience in the face of industry challenges is testament to its commitment to deliver value to its 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,” he added.
Building on the 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 7.0 per cent 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 surpassed over 100 million total followers as of December 2023, solidifying its position as the nation’s leading digital publisher.
These initiatives further enhance REV’s advertising capabilities and reach, driving a revenue growth of 10 per cent 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 disbursed over RM1.9 million to reputable non-governmental organisations including 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.
Rafiq Razali, group managing director of Media Prima, said: “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.”
He said Media Prima remains committed to delivering high-quality content and pioneering innovative solutions to stay ahead in the ever-evolving media landscape. – NST Online