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MediaCorp announces operating profit of $16.4 million for FY 08/09
Singapore, 25 September 2009 – With the world’s financial crisis of 2008-9 as backdrop, MediaCorp announced an operating profit of $16.4 million for the year ending 31 March 2009. The result was achieved on total revenues of $538.8 million, up 1.6% from FY 0708. Net profit after tax was $37.5 million, down 31% from a year ago.
Mr Lucas Chow, CEO of MediaCorp says, “FY 0809 proved to be a most challenging year. After a promising start in the first 6 months, the global financial crisis struck and impacted local advertising revenues, which form the lion’s share of our revenue base. Against all odds, I am happy to note that our revenues managed to hold steady, testimony that our products and services continue to gain trust and traction from our business partners and stakeholders.”
Added Mr Chow, “Moving forward, we will be watching the Asian economies closely and adjust our strategies accordingly. MediaCorp will continue to invest in our human capital while expanding our businesses both within and outside Singapore through content production, aggregation, new media initiatives and playing a key role in the Next Generation Services, following Singapore’s deployment of the Next Generation National Broadband Network.”
Issued by MediaCorp Pte Ltd
For more information, please contact:
Corporate Communications and Marketing
MediaCorp is Singapore’s leading media company with the most complete range of platforms, spanning television, radio, newspapers, magazines, movies, digital and out-of-home media.
It pioneered the development of Singapore’s broadcasting industry, with the broadcast of Radio in 1936 and Television in 1963. Today, MediaCorp has over 50 products and brands in four languages (English, Mandarin, Malay and Tamil), reaching out to all adults in Singapore every week.
Our industry firsts include the Digital Video Broadcast technology for outdoor digital television, and Asia’s first Digital Audio Broadcast radio service. Initiatives in the digital space include online classifieds, Internet TV-on-demand and High Definition TV broadcast.
MediaCorp is an active regional player through co-productions in TV dramas and movies, magazines publishing, as well as Channel NewsAsia International, the only Asian-owned English news channel.
Our financial and strategic relationships in the region since 2007 include a venture with Indonesia's most integrated media company PT Media Nusantara Citra and its parent, Global Mediacom, and International Media Corporation in Vietnam, set up to develop and produce television entertainment and economic news content.
Winner of numerous international awards and accolades including Asia Television's Broadcaster of the Year, MediaCorp’s vision is to become Asia’s top media company, delivering valued content to the world.
For more information, please visit www.mediacorp.com.sg
For immediate release