Star Media Group posts 28% increase in revenue to RM74.1mil in 2Q

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PETALING JAYA: Star Media Group Bhd (SMG) posted a 28% increase in revenue to RM74.1mil for the second quarter ended June 2024 (2Q24) compared to RM58.0mil recorded in June 2023 (2Q23), attributed to the better performance of its property development and investment segment.

The group posted a pre-tax profit of RM7.6mil in 2Q24, a huge improvement from the RM1.2mil earned in 2Q23, SMG told Bursa Malaysia in a filing.

On its prospects, SMG said the industry outlook in relation to advertising expenditure would remain challenging in the second half of 2024.“Management will continue to monitor business conditions, focus on improving its internal operational efficiencies and prudent cost management.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Star Media Group Digital Property /Business/Business News Radio broadcasting SMG Print Corporate News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 17:05:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22173499

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