KUALA LUMPUR (May 17): Star Media Group Bhd shares rose 5% in early trade this morning after its net profit rose 70.33% to RM11.32 million for the first quarter ended March 31, 2018, from RM6.65 million a year ago, due to better cost management and lower depreciation expenses.

At 9.08am, Star rose 5 sen to RM1.05 with 130,600 shares done.

However, its revenue declined 8.07% to RM109.03 million from RM118.61 million.

The group’s print and digital segment recorded a higher profit before tax of RM20.67 million, compared with RM8.09 million previously, because of a lower wage bill and depreciation expenses from the print segment.

Star Media's radio broadcasting segment's profit before tax also increased to RM1.56 million from RM1.07 million a year ago despite a 3.6% decline in revenue.