Friday 29 Mar 2024
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KUALA LUMPUR (June 22): Berjaya Media Bhd (BMedia), the publisher of theSun newspaper, swung to a net loss of RM27.93 million or 11.88 sen loss per share in the fourth quarter ended April 30, 2015 (4QFY15) compared with a net profit of RM128,000 or 0.05 sen earnings per share a year ago, on impairment charges.

In a filing with Bursa Malaysia, BMedia said its bottomline was hit by the impairment of publishing rights amounting to RM25 million and impairment of certain quoted investments, coupled with lower revenue.

Revenue for 4QFY15 fell 14.2% to RM11.22 million from RM13.08 million a year ago, mainly due to lower advertising income recorded by its principal operating subsidiary, Sun Media Corp Sdn Bhd.

The weak quarterly results dragged BMedia into a net loss of RM31.16 million or 13.25 sen loss per share for the full year FY15 from a net profit of RM4.09 million or 1.75 sen earnings per share in FY14.

Revenue for FY15 was RM53.83 million, representing an 8.33% decline from RM58.72 million in FY14.

On future prospects, the media group said it continues to operate in a competitive business environment and will continue to focus on improving its advertising revenue. 

"Given the prevailing state of economic environment and various other factors such as the weakening of the ringgit and introduction of goods and services tax, the directors are of the view that the group's business for the next financial year ending April 30, 2015 will be very challenging," it said.

BMedia (fundamental: 1.65; valuation: 0.9) shares were not traded today. They last closed at 37 sen per share for a market capitalisation of RM86.98 million. 

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
 

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