Media Prima 9-month revenue reaches RM651m

MEDIA Prima Bhd has posted a net profit of RM27.2 million on a turnover of RM650.9 million for the first nine months ended March 31, 2024 (9MFY24), with advertising and commerce revenue impacted by soft consumer sentiment and inflationary pressures.

Omnia, the omnichannel solution provider offering creative services and integrated marketing solutions across all Media Prima platforms, pulled in the bulk of the revenue of RM534.6 million or 82% of the total revenue.

This was followed by broadcasting – audio platform which brought in RM294.6 million or 33% of the total revenue, according to its exchange filing today.

For the third quarter ended March 31, 2024 (3Q24), Media Prima posted a net profit of RM2.5 million on a revenue of RM213.2 million. It did not provide comparative financial information as it changed its financial year end from Dec 31 to June 30.

As announced by the Company on 25 August 2022, the financial year end of the Group was changed from 31 December to 30 June. Whilst there is no comparative financial information presented for the quarter ended 31 March 2024, the analysis below is a comparison against the immediate preceding quarter ended 31 December 2023.

It noted that the 3Q24 revenue was 5% lower than 2Q24 mainly due to cut in spending by several major advertisers impacted by the challenging business landscape amid the geopolitical situation in certain parts of the world.

Media Prima shares closed today at 46 sen, valuing the company at RM510 million. –TMR