Star Media Group posts net profit of RM26.9mil in 3Q

Star Media Group said its print and digital business segment recorded a pre-tax profit of RM33.7mil in the third quarter as compared with a pre-tax loss of RM0.28mil in the same quarter of last year, mainly due to the recognition of compensation income for the late delivery.

PETALING JAYA: Star Media Group Bhd (SMG) posted a net profit of RM26.9mil for its third quarter ended Sept 30,2020 as the rebound in business activity added to a sharp rise in revenue from the second quarter of this year.

Aided by an exceptional item of RM50.5mil following the recognition of compensation from a legal case that helped with its bottomline, SMG said revenue for the third quarter was RM48.2mil, a 53% increase from RM31.5mil recorded in the second quarter.