SMG sustains turnaround and reports profit in 2Q22

An aerial view of Menara Star in Petaling Jaya. — IZZRAFIQ ALIAS/The Star

KUALA LUMPUR: Star Media Group Bhd (SMG) posted a 14% rise in revenue to RM53.22mil in the second quarter of its 2022 financial year (2Q22) from 2Q21 as operational enhancement has led to an improvement in advertising bookings as businesses resumed operations at their optimal level.

SMG said strong demand translated into growth in its financial performance with not only revenue rising but also the company posting a pre-tax profit of RM2.14mil in 2Q22 compared with a pre-tax loss of RM37.76mil in 2Q 2021 that was primarily due to impairments of property, plant and equipment.