Petaling Jaya - Media Prima Berhad Group (MPB) recorded its second consecutive quarter of strong growth in Q3 of FY2009, with a 16% increase in net revenue to RM206.4 million (US$60 million).
With a minimal 4% increase in operating costs to RM161.4 million (US$47 million) together with the growth in profits contributed by its associate company The New Straits Times Press (NSTP), MPB recorded a Net Profit from Continuing Operations of RM30.99 million (US$9 million) which represents a significant growth against the RM17.96 million (US$5.2 million) recorded in Q2.
The financial results reflect the continued market leadership position held by each of MPB’s media platforms. The Group’s TV Networks’ - TV3, 8TV, ntv7 and TV9 - maintained their dominance in Malaysian television viewing, with a combined audience share of 51% while the Group’s flagship station, TV3, kept a tight grip on its leadership position with an audience share of 30% despite intense competition from both free-to-air and pay channels (Source: AGB Nielsen Media Research).
Company said that the recent divestment of MPB’s entire equity stake in Primedia Inc. in early November 2009 will no longer expose the Group to any future operational losses from its Philippines venture, which recorded operational loss after minority interests of RM13.7 million (US$4 million) in Q3.
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