Star Media Group posts revenue of RM59.4mil
PETALING JAYA: Star Media Group Bhd (SMG) recorded revenue of RM59.4mil in the first quarter of financial year ended March 31, 2025 (1Q25), an increase of 12% compared to the same period a year ago.
The company recorded pre-tax profit of RM0.7mil compared to a loss of RM0.2 mil in 2024, attributed to the better performance from both the radio broadcasting and property development and investment segments.
Revenue for the radio broadcasting segment grew by 21% to RM8.8mil in 1Q25, resulting in significantly higher pre-tax profit of RM1.9mil compared to RM0.6mil in the same period last year.
This growth was supported by increased revenue from commercial airtime, sponsorships, and digital platforms, benefiting from festive season demand, the media group said in a filing with Bursa Malaysia.
As for its property development and investment, revenue saw a 237% growth to RM16.5mil as compared to RM4.9mil recorded in 1Q24.
This strong performance, driven by higher progress billings from the Star Business Hub project and increased property leasing income, resulted in a significant rise in pre-tax profit to RM7.6mil, up from RM1.3mil recorded in the same period one year ago.
Coming to the print, digital and events segment, revenue decreased 17% to RM35.4mil. This decline was primarily driven by lower advertising income amidst a more challenging economic climate influenced by potential US tariffs and ongoing geopolitical tensions.
The segment recorded a pre-tax loss of RM3.5mil versus a RM1.6mil profit in the same period last year.
Touching on prospects, SMG said economic disruptions stemming from geopolitical tensions and the escalating trade war will continue to present a challenging outlook for the media industry in 2025.
'These factors are expected to impede economic recovery and increase cost-of-living pressures, thus hindering the industry's ability to rebound. Despite these headwinds and continued disruptive trends, the group remains confident in its resilience and adaptability.'
The group said the management remains optimistic that the property development and investment segment will continue to contribute positively to the group's overall performance in 2025.
Leveraging on a strong financial foundation, SMG added that it will "actively pursue opportunities for revenue diversification and sustainable profitability growth".
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