PETALING JAYA: DESPITE a challenging year, Media Prima Bhd remained resilient to chalk up RM214.2 million in profit after tax and minority interest (Patami) for financial year ended December 31 2013, from RM209.3 million a year ago, due to its strong and complete media offerings.
Malaysia's largest and leading fully integrated media group also saw gross revenue rising RM25.1 million to RM2.04 billion compared with RM2.01 billion previously, riding on the group's robust radio networks, outdoor media, television networks and digital media.
Media Prima announced a revised dividend policy of between 60 and 80 per cent of Patami, from 25 and 75 per cent previously.
For the fourth quarter ended December 31 2013, the company saw its net profit easing to RM63.4 million from RM73.1 million, while revenue softened to RM451.5 million from RM477.7 million previously.
Its chairman Datuk Johan Jaaffar said that for the second year in a row, the group recorded a gross revenue surpassing the RM2 billion threshold despite a difficult operating environment.
Media Prima group managing director Datuk Amrin Awaluddin said the year ahead will continue to be challenging, but the group is cautiously optimistic with advertising expenditure growth to be spurred by the FIFA World Cup, Commonwealth Games, Asian Games and Visit Malaysia Year 2014.
"These events will continue to bring revenue to the group and we will continue to build on the momentum as well as exercise prudent financial management and improve operational efficiencies," Amrin said at Sri Pentas, here, yesterday.
Meanwhile, Johan said Media Prima is well-positioned for future growth and is confident of its ability to sustain profit and maintain its dominant position. This is demonstrated by a revised dividend policy, which will be paid quarterly or at a minimum of twice a year, subject to availability of cash, funds requirement and quarterly financial performance.
Amrin said the revision is to consolidate investors' confidence in the company's shares as a trustee stock with long-term earnings growth and not regard it as a speculative stock for short-term gains.
Media Prima has shareholder funds of RM1.6 billion, total assets of RM2.6 billion and a cash position of RM618.4 million with equity interests in TV3, 8TV, ntv7 and TV9 as well as the New Straits Times Press and web portals, radio stations, Internet protocol television and others.
NSTP has the New Straits Times, Berita Harian and Harian Metro newspapers in its stable.
Media Prima declared a third interim single-tier dividend of three sen per share to be paid on March 28 and a final single-tier dividend of five sen, subject to approval at its annual general meeting in April.
With that, the total interim dividend for the current financial year is 14 sen per ordinary share.