KUALA LUMPUR (Feb 25): Media Prima Bhd returned to the black with a net profit of RM18.84 million for the fourth quarter ended Dec 31, 2020 (4QFY20), from a net loss of RM104.46 million a year ago, underpinned by lower operating expenses achieved through its cost optimisation initiatives. This is the media group’s second consecutive quarterly profit for the financial year ended Dec 31, 2020 (FY20).
Its quarterly revenue, however, slipped 2.1% to RM298.09 million, from RM304.63 million a year ago, its filing to Bursa Malaysia showed.
The drop in revenue was dragged mainly by broadcasting and publishing segments.
The group’s broadcasting revenue declined by 12% against 4QFY19 due to lower television and radio advertising expenditure.