Diversification into property segment sustains revenue and profitability for SMG

PETALING JAYA: Star Media Group Bhd (SMG) posted a higher pre-tax profit of RM5.5mil in the fourth quarter of 2023 (4Q23) compared with RM1.7mil in the previous corresponding period.

The higher profit was due to the sale of investment property worth RM6.5mil during the quarter. The group’s total revenue in 4Q23 was RM55.1mil, a drop of 7% as compared to 4Q22.