Media Prima posts pre-tax loss of RM135.6m in Q2

, Aug 14 — Media Prima Bhd’s posted a pre-tax loss of RM135.6 million in the second quarter ended June 30, 2017 against a pre-tax profit of RM29.84 million in the same quarter a year ago.

Revenue eased to RM328.77 million from RM349.55 million previously due to changes in consumer behaviour and digital disruptions that have impacted the media industry as a whole.

“Although the group has ventured into new digital and consumer-based business initiatives to complement its traditional media segments, these initiatives are still undergoing a gestation period,” the integrated media company said in a filing to Bursa today.

On prospects, Media Prima said the group was committed to its transformation journey in defending its traditional revenue sources and increasing its efforts in developing new revenue streams, involving several key areas, including market leadership in broadcast, over-the-top content and digital publishing.

“The group is also focused on increasing commerce revenue through integrated media and expansion beyond Malaysia.

“Continuous cost management by maximising existing value chain and increasing productivity and efficiency remains a priority while exercising prudent financial and risk management,” it added. — Bernama

Source: The Malay Mail Online

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