KUALA LUMPUR (Aug 30): Media Prima Bhd posted a net profit of RM8.83 million for the three months ended June 30, 2023, on the back of revenue of RM233.01 million.

In a bourse filing on Wednesday, the media group said there are no comparative figures for the condensed consolidated statement of changes in equity for the 18-month period ended June 30, 2023, due to a change in the financial year end from Dec 31 to June 30.

Earnings per share stood at 0.8 sen.

Media Prima also declared a dividend of 1.5 sen to be paid on Oct 3.

Reviewing its performance, Media Prima said revenue was 6% higher than RM210.84 million for the three months ended March 31, 2023, due to higher advertising revenue.

Meanwhile, the group said net profit was 49% higher, due to the real property gains tax incurred during the previous three months.

On its prospects for the financial year ending June 30, 2024, Media Prima said it remains cautious about ongoing economic challenges, and how they may affect businesses, especially advertising revenue.

“Nonetheless, we are confident that our strong brands, extensive reach, and innovative content will continue to resonate with our loyal audiences and advertisers.

“The group aims to grow and monetise its first-party data capabilities, which shall offer advertisers the advantage of better audience insights for personalised marketing campaigns by connecting multiple data points across the group’s wide-reaching digital assets.

“The group will also continuously monitor operational efficiency to improve its business resilience amid the cautious outlook,” the group said.

At the midday break on Wednesday, Media Prima had fallen 3.33% or 1.5 sen to 43.5 sen, with 40,000 shares traded.