Thursday, August 11, 2011

Utusan Melayu's losses narrow in 2Q

KUALA LUMPUR: Utusan Melayu (Malaysia) Bhd posted lower losses of RM473,000 in the second quarter ended June 30 compared with losses of RM5.07 million a year ago due to higher revenue from advertising.

It said on Thursday, Aug 11 revenue was 10.7% higher at RM88.79 million compared with RM80.19 million while loss per share was 0.43 sen versus 4.58 sen.

When compared with the first quarter, it said the revenue increased by RM3 million from the RM85.80 million. Consequently, the group recorded a lower loss before tax of RM3 million as compared with a loss before tax of RM6.9 million.

For the first half, its net loss was RM7.56 million compared with RM11.11 million in the previous corresponding period. Revenue increased by 12.6% to RM174.62 million from RM155.02 million.

On the outlook, it said the intense competition for the market share of advertising expenditure (Adex) continued in 2011. But it expected positive growth in the Gross Domestic Product and the overall adex for 2011 would provide an opportunity for the group to increase its advertising revenue.

'The group's compact newspaper, Kosmo which grew by 21% in terms of circulation revenue in the first half of this year is expected to increase its contribution to the Group's revenue and profitability in 2011,' it said.

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