Media Prima sees growth despite “challenging” times

Radio revenues at Malaysia’s Media Prima Berhard grew 14 percent in the first half of the year, according to figures released by the company on Wednesday.

Media Prima’s three stations Fly FM, Hot FM and ONE FM contributed revenues of nearly US$11.8 million (RM39.3 million) in the January to June 2013 period compared to US$10.3 million (RM34.4 million) in the same period last year.

The company said the increase was mainly due to higher contributions from Hot FM (Malay) and ONE FM (Mandarin).

Overall, Media Prima, one of the countries leading fully-integrated media groups, recorded seven percent growth in consolidated revenues to US$299.4 million (RM988.4 million) in the first half.

TV revenues were up 10 percent and its newspaper business saw a four percent rise.

There was also a 12 percent rise in Profit After Tax and Minority Interest (PATAMI) compared to the first half of 2012.

PATAMI was US$26.5 million (RM88.4 million) despite what the company described as “a challenging operating environment”.

Datuk Johan Jaaffar, Chairman of Media Prima Berhad, said the company was still on track to achieve its financial targets for 2013.

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