KUALA LUMPUR: Seni Jaya Corporation Bhd posted revenue of RM8.7 million for the second quarter (Q2) ended 30 June 2022 (FY22), a sixfold jump from RM1.5 million posted in Q2 FY21.
With the top line increase, the company earned a net profit of RM1.0 million. This was a RM2.9 million improvement against the net loss of RM1.9 million in Q2 FY21.
On a quarter-on-quarter (QoQ) basis, the company's top line increased marginally from RM8.6 million in Q1 FY22 to RM8.7 million in Q2 FY22.
Over the same period, net profit surged 102.2 per cent from RM0.5 million to RM1.0 million.
For the first half (1H) of FY22, Seni Jaya reported revenue of RM17.2 million, which also rose by sixfold on a year-on-year (YoY) basis.
Consequently, its bottom line turned around from a net loss of RM3.5 million in 1H FY21 to a net profit of RM1.5 million in 1H FY22.
Chief executive officer Cheah See Heong said that aside from the conducive operating landscape, the strong recovery registered was also attributed to the business transformation plan the company embarked on in mid-2021.
"Our strategy to accumulate and widen the coverage of our billboard assets during the down period has paid off today.
"Apart from sheer numbers, we have also added assets with premium pricing such as mega-size billboards and digital billboards," he said in a statement.
Furthermore, Cheah said the company's digital gantry was completed and operational with healthy customer demand and feedback.
"The spectacular digital gantry is located in Kelana Jaya along Damansara–Puchong Expressway or Lebuhraya Damansara–Puchong (LDP) and covers both ways of the traffic.
"Moving forward, we are cognizant of the challenges ahead with inflation soaring across the globe.
"Though, now that we are one of the largest out-of-home advertising companies in the country, we are on a much better and stronger footing to withstand these external factors," Cheah said.