KUALA LUMPUR: Star Media Group Bhd, which publishes The Star newspaper, reported its maiden quarterly net loss of RM155.15 million for the fourth quarter ended Dec 31, 2017 (4QFY17) due to lower print segment revenue and one-off expenses amounting to RM189.83 million. This compared to a net profit of RM39.44 million in the equivalent period a year ago.
Star said the one-off expenses were due to the mutual separation scheme or early retirement option (MSS/ERO) expenses, impairment on goodwill and assets, as well as write-off of property, plant and equipment. This resulted in the group recording a loss per share of 21.02 sen in 4QFY17 compared to earnings per share of 5.34 sen in 4QFY16.
Quarterly revenue fell 17.6% to RM126.34 million from RM153.38 million a year ago, mainly due to lower revenue contribution from the print and television segments; the latter ceased operation in October last year.
Nevertheless, the group declared a second interim dividend of six sen per share for the financial year ended Dec 31, 2017 (FY17), payable on April 18.
In a filing with Bursa Malaysia yesterday, Star said its print and digital segment saw revenue declining 14.8% due to lower advertising revenue as advertisers remained cautious about their spending. As a result, this segment recorded a pre-tax loss of RM137.53 million mainly due to print.
Stripping out the MSS/ERO expenses and impairment on assets, this segment would have recorded a pre-tax profit of RM6.07 million in 4QFY17, a 62.8% decline from RM16.32 million in 4QFY16.
Star’s radio broadcasting revenue also fell 8.4% year-on-year in 4QFY17 as advertisers remained cautious. Nevertheless, this segment recorded a pre-tax profit of RM1.43 million due to better cost management in the current quarter under review.
The poor quarterly results dragged down the group’s full FY17 net profit by 17.8% to RM90.29 million from RM109.91 million the previous year. Revenue dropped 17.9% to RM517.73 million from RM630.43 million in FY16.
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Star 。。。。。。。。。。。。。
未来是。。。困难重重
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