KUALA LUMPUR: Media Prima Bhd (MPB), Malaysia's leading and largest integrated media group, posted a net profit of RM5.2 million for the first quarter (Q1) ended March 31 2022 (FY22), up 26 per cent from RM4.2 million in the same quarter last year.
This marks MPB's continued quarterly profit momentum amid a challenging operating landscape.
Group revenue remained resilient, with a marginal decline of three per cent to RM247.5 million from RM254.5 million in Q1 FY21.
MPB's revenue was backed by a 14 per cent increase in advertising revenue, registering RM174.4 million for Q1 FY22 as compared to RM152.3 million in Q1 FY21.
The company's advertising is led by Media Prima Omnia's (Omnia) integrated strategy which leverages MPB's popular brands and mass reach across multiple media platforms.
Advertising revenue across the company's businesses improved, led by higher contributions from the broadcasting business.
MPB's broadcasting segment, represented by Media Prima Television Networks and Media Prima Audio, posted a revenue increase of 28 per cent to RM118.3 million from RM92.5 million in Q1 FY21.
The company's publishing segment — the New Straits Times Press — also recorded stronger advertising revenue in Q1 FY22 against the corresponding quarter.
MPB's out-of-home business, Big Tree, recorded a 13 per cent revenue increase in Q1 FY22 against the corresponding period of the previous year, following the reopening of more economic sectors and a gradual return in demand for outdoor advertising.
Content sales revenue more than doubled in the three months under review due to the increase in demand for more local content from existing and new streaming service providers.
The company's digital segment, REV Media Group (RMG), recorded a 22 per cent revenue increase to RM23.5 million in Q1 FY22 against the corresponding quarter.
MPB remained the leading digital publisher with RMG reaching over 15.8 million Malaysians every month.
RMG was recently awarded Best Digital
Publisher of the Year for the third time at the Malaysian Digital Association "d Awards 2022".
"We are pleased with our results for Q1 FY22. This was backed by stronger advertising revenue contributions across all our business segments which illustrates that we have established a strong sales strategy and team under Omnia," MPB Group chairman Datuk Seri (Dr) Syed Hussian Aljunid said in a statement today.
"The company believes that Omnia is poised to benefit from the reopening of the economy which has prompted advertisers to spend more. We are also heartened by the performance of our broadcasting and digital segments which have contributed significantly to the company's overall revenue.
"All this gives us confidence that we are in a stronger position to deliver so much more as an integrated media company. Barring unforeseen circumstances, we remain cautiously optimistic of our performance in the remaining quarters and will ensure that we continue to deliver exceptional value to all our
stakeholders," he added.
MPB group managing director Rafiq Razali said the company marched into 2022 on a positive note, recording a profitable quarter following our strong performance in FY21, despite the period under review being a traditionally challenging period of the financial year.
"This illustrates that MPB remains resilient and agile despite the fast-changing media landscape.
"Nonetheless, the challenges and
competition will evolve and we must continue to adapt and reform to ensure MPB always delivers the best to our advertisers, and to the 98 per cent of Malaysian households we cater to.
"This includes repositioning our commerce business to leverage our strengths as an integrated media company. We will leverage all our media platforms and all the data we have available across our businesses to deliver a better experience for WOWSHOP's 3 million customers.
"As the largest content producer, we will continue to invest heavily in content creation to keep up with the demand from global streaming providers for more localised content.
"Moving forward, our aim is to create more synergies across our businesses to truly unlock our value as Malaysia's leading integrated media group," he added.