KUALA LUMPUR, Feb 23 — Media Prima Bhd returned to the black in the financial year ended Dec 31, 2021 (FY2021), with earnings of RM55.23 million compared with a net loss of RM18.38 million in the previous year.

Revenue also rose by eight per cent to RM1.12 billion from RM1.04 billion previously, contributed by the growth in advertising revenue driven by sales from the Omnia segment, the integrated media group said.

Established in 2020, Omnia offers creative services and integrated marketing solutions across all Media Prima platforms, specialising in brand campaigns, events and creative content.

“(Omnia’s) revenue for the year increased by 79 per cent against 2020, in line with the increase in advertising revenue of the group during the year.

Advertisement

“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,” Media Prima said in a filing with Bursa Malaysia today.

The group said its broadcasting segment posted a 38 per cent revenue growth against the preceding year, driven by strong television advertising revenue and content sales revenue, while the digital media segment recorded a 10 per cent revenue growth.

However, the publishing, out-of-home, home shopping and content creation segments all recorded weaker revenue.

Advertisement

Its publishing business, the New Straits Times Press, returned to the black in the year under review although the segment’s revenue fell seven per cent due to lower newspaper sales.

“(The profit was) a result of its more optimal cost structure and growth in newspaper printing and distribution revenue of more than 20 per cent,” Media Prima said in a press statement.

Meanwhile, the home shopping segment’s revenue dropped by 13 per cent as more in-store shopping options were made available to consumers following the easing of movement restrictions in the second half of 2021.

Media Prima group chairman Datuk Seri Syed Hussian Aljunid said despite the challenges affecting the media industry magnified by the Covid-19 pandemic, advertising revenue increased from last year led by the sales team under Omnia.

“Our digital and commerce segments remained strong against greater competition and fast-changing media trends.

“All this fuels our confidence in Media Prima’s future and establishes a much needed foundation to grow,” he said.

Meanwhile, group managing director Rafiq Razali said Media Prima remained Malaysia’s number one choice for mobile content against bigger competitors.

“We are also pleased to see signs of recovery for our publishing business which is seeing an improvement in printing and distribution revenue,” he added.

Moving forward, Media Prima said it would focus on sustaining this momentum by accelerating revenue-generating initiatives for its advertising, digital and commerce businesses.

The group will continue to look out for more strategic collaborations to grow further while elevating its competitive advantage.

Its board of directors have declared a first and final dividend of 1.5 sen per share for FY2021 (FY2020: Nil). — Bernama