KUALA LUMPUR: The Star Media Group suffered an 8.6 per cent decline in its revenue, taking in only RM198.73 million in the first quarter of 2016. This was a stark contrast to the RM217.43 million it earned in the similar period last year, according to a report on The Star Online today.
As such, its profit attributable to shareholders decreased to RM14.86mil from the RM23.92mil recorded last year. Its print and digital segments also posted comparatively poor figures, registering a lower revenue of 12.7 per cent. Pre-tax profit for the print and digital segments went down to RM27.16 million in the first quarter in comparison to RM44.44 million last year. It cited economic uncertainties and poor consumer sentiments as the reasons behind the plunge in its overall newspaper advertising expenditure (Adex), which fell by 12.3 per cent in the first quarter.
The report said its radio broadcasting segment also recorded a pre-tax loss of RM360,000 with a lower revenue of RM855,000. Its television channel segment recorded a pre-tax loss of RM1.98mil via a decreased turnover of RM2.02mil. The group, however, recorded a 10.3 per cent increase in its event, exhibition, interior and thematic segment, which comprises businesses done by Cityneon Holdings Ltd and I.Star Factory Ideas (Perfect Livin’).
The segment’s revenue increased to RM42.02 million compared to RM38.09 million in the same period last year. This, it said, was largely due to Cityneon’s Victory Hill Exhibitions (VHE), a company with global rights to produce, exhibit and market characters from Avengers and Transformers series.
