Tuesday, May 23, 2006

Media Prima 1Q2006 Growth

Kuala Lumpur -- Media Prima Bhd, Malaysia's biggest media group, has reported a 28 per cent jump in first quarter 2006 revenue and is confident that it can improve its financial performance.

The better revenue was driven by growth from its television networks - TV3 (by far the largest contributor to earnings), 8TV and NTV7 - as well as income from its two radio stations - Hot.FM and Fly.FM - bought and re-launched last year.

The three television networks now collectively have 48 per cent of Malaysian viewership, as against 44 per cent in the same period last year. Channel 9 was launched early April and not part of this reporting period.

The group's revenue rose to RM99.9 million for the quarter to March 31 2006 versus RM78 million in the same quarter last year.

"As a consequence of the strong revenue growth and continuing prudent cost management, the group's operating profit grew by 27 per cent to RM12.24 million in the first quarter," Media Prima said.

Other part of the Group, the New Straits Times Press was not so healthy and took the Group into loss for the reporting period.

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