KUALA LUMPUR (Feb 26): Media Prima Bhd (KL:MEDIA), the country’s largest integrated media group, saw its net profit fall 67% to RM3.53 million for its second financial quarter ended Dec 31, 2024 (2QFY2025), from RM10.71 million a year ago, due to higher investments in direct cost and overheads during the current quarter under review.

As a result, earnings per share were lower at 0.32 sen for 2QFY2025, compared with 0.97 sen for 2QFY2024.

Quarterly revenue rose 2% to RM228.02 million, from RM223.77 million a year ago, on higher non-advertising revenue in the current quarter from home shopping and publishing segments, the group said in a bourse filing on Wednesday.

No dividend was declared for the current quarter under review.

For the cumulative six-month period (1HFY2025), the group posted a 78% decline in net profit to RM5.39 million, from RM24.77 million a year ago, while revenue fell 3% to RM422.96 million, from RM437.7 million in 1HFY2024.

On prospects, Media Prima said it maintains a cautious outlook for 2HFY2025, as advertising expenditure (adex) is expected to remain under pressure, due to prevailing economic uncertainties and the continuing digital transformation of the media industry.

"Notwithstanding these challenges, the group’s strategic focus remains on sustaining performance across all platforms and optimising operational efficiencies. This focus is underpinned by the group’s three-year business plan, which prioritises (i) enhancing content quality, (ii) premium inventory and (iii) exploring and developing new revenue streams. The group believes these strategic initiatives shall soften the impact of market headwinds and contribute to long-term sustainable growth."

Media Prima shares closed 0.5 sen or 1.06% higher at 47.5 sen on Wednesday, giving it a market capitalisation of RM526.87 million. The stock has risen slightly by 1.06% so far this year.