| |
| |
 |
| |
|
| |
|
| |
|
Singapore – Higher earnings for the year ended 31 March 2010 has been announced by MediaCorp, Singapore's leading media company.
MediaCorp's net profit after tax was S$84.2 million, more than double that of the previous year.
As for operating profit (before finance income), it more than trebled to S$60.8 million, with cost saving measures shoring up total revenue that was relatively flat at S$531.7 million compared to a year ago, in line with the economic recovery.
During the year, MediaCorp paid dividends to its sole shareholder, Temasek Holdings, with equity securities amounting to S$292.8 million.
"The global economic crisis hit our first half year, severely impacting advertising expenditures," said MediaCorp CEO, Mr Lucas Chow.
"The second half of the FY picked up significantly and, against all odds, MediaCorp finished FY 2009/10 with stronger earnings than a year ago.
"This was largely due to stringent belt tightening but without any staff being retrenched. For this, I have my colleagues to thank as everyone rallied behind the company."
Noting the strong Singapore economy, Mr Chow added: "Going forward, we are confident to grow our advertising revenue... continue to invest in human capital, leverage on technology and diversify our revenue sources."
He also said that as Singapore's largest content producer, MediaCorp is confident of opportunities to be a key player in Singapore's Next Generation National Broadband Network.
The strong earnings performance capped a year which saw many product innovation and achievements, notably, the formation of MediaCorp NewsHub, Asia's first convergent newsroom; the launch of its Out-of-Home business at Ion Orchard and Orchard Central; the formation of MediaCorp VizPro International for events business and a collaboration with Microsoft to create a new online portal, xinmsn.com.
- CNA/sf
|
