Media Prima has lower net loss in first three months

PETALING JAYA: Media Prima Bhd saw its net losses for the first quarter ended March 31, narrow to RM21.82 million from the RM38.46 million reported a year ago.
Revenue increased by 3.1% to RM280.66 million from RM272.20 million due to higher revenue for digital advertising, content and commerce revenue.
“Going forward, the group will accelerate revenue generating initiatives by maximising its core assets while diversifying into new revenue streams. The group will also look out for acquisitions, joint ventures and/or strategic partnerships, with an aim to enhance long-term shareholder value,” its board of directors said in a statement.
Media Prima said it will continue to leverage on its digital and non-digital platforms, while also expecting the structural change in the media sector to continue affecting traditional media companies, in tandem with global trends.
The stock closed down half a sen, or 1.37%, to 36 sen with some 2.94 million shares done.