Media Prima Bhd achieved a net profit of RM55.23mil in the financial year ended Dec 31, 2021, compared to a net loss of RM18.38mil in the previous year. This was achieved on the back of a turnover RM1.120 billion from a turnover of RM1.041 billion for the same period last year.
For the quarter ended December 31, 2021, it achieved a net profit of RM28.942 million from a net profit of RM18.837 million while turnover was RM315.091 million from RM298.086 million for the same period the previous year.
It said that the revenue for the financial year ended 31 December 2021 (“FYE 2021”) increased by 8% against the corresponding year largely contributed by the growth in advertising revenue driven by sales from the Omnia segment.
It said that Omnia revenue for the year increased by 79% against 2020, in line with the increase in advertising revenue of the Group during the year. The increase in segment revenue was also attributed to the Group’s out-of-home advertising sales arm being consolidated under Omnia in the second half of 2021.
(It said that the Broadcasting revenue increased by 38% against the preceding year driven by strong television advertising revenue and content sales revenue while the Digital Media – Revenue growth of 10% compared to the previous year
It said that despite recording a reduction of revenue by 7% contributed by lower newspaper sales in 2021, the segment recorded a profit for FYE 2021 because of its more optimal cost structure.
On prospects, it said that as more economic sectors open and recover, in line with the positive indicators by Bank Negara Malaysia (“BNM”) on Malaysia’s FY2022 GDP, the Group expects higher advertising spending, as well as more opportunities to explore content production and potentially, on-ground events in greater capacity.
It said that the group’s sales arm, Media Prima Omnia will focus on the economic sectors which are expected to greatly benefit from the lifting of movement restrictions and look to offer more innovative advertising solutions for advertisers.
Media Prima said that the Group’s commerce business will continue to innovate its product offering to include more from categories that are in-demand from its consumers. Commerce will also work closely with Omnia to provide clients with packages that would encompass a combination of commercial airtime and commerce space.
It said that the growth in streaming and increased presence of over-the-top media platforms, in line with the evolving media consumption trends in Malaysia, presents huge opportunities for the Group to expand its content reach and offering.
Moving forward, the Group will focus on sustaining the performance by accelerating revenue- generating efforts for our advertising, digital, and commerce businesses whilst continuously monitoring our cost management initiatives. The Group will continue to look out for more strategic collaborations to grow further, while elevating its competitive advantage.
