Star Latest QR Summary
Summary of Star Media Group Berhad Q2 2024 Bursa Announcement:
💰 1. Financial Performance
✅- Revenue Growth: Total revenue of RM74.1 million in Q2 2024, an increase of 28% compared to Q2 2023.
✅- Profit Before Tax: RM7.6 million in Q2 2024, improved by 516% compared to Q2 2023.
✅- H1 2024 Performance: Improved across all three indicators compared to H1 2023, mainly driven by property development & investment segment.
✅- Revenue Growth: Total revenue of RM74.1 million in Q2 2024, an increase of 28% compared to Q2 2023.
✅- Profit Before Tax: RM7.6 million in Q2 2024, improved by 516% compared to Q2 2023.
✅- H1 2024 Performance: Improved across all three indicators compared to H1 2023, mainly driven by property development & investment segment.
📊 2. Segment Performance
❌- Print, Digital and Events: Revenue declined by 11% in Q2 2024 compared to Q2 2023. Recorded a loss before tax. Decrease due to challenges in print and advertising business.
❌- Radio Broadcasting: Revenue declined by 14% in Q2 2024 compared to Q2 2023. Profit before tax also decreased due to lower commercial airtime revenue from increased market competitiveness.
✅- Property Development & Investment: Recorded higher revenue and profit before tax in Q2 2024 compared to Q2 2023, mainly due to progress billings from Star Business Hub project.
❌- Print, Digital and Events: Revenue declined by 11% in Q2 2024 compared to Q2 2023. Recorded a loss before tax. Decrease due to challenges in print and advertising business.
❌- Radio Broadcasting: Revenue declined by 14% in Q2 2024 compared to Q2 2023. Profit before tax also decreased due to lower commercial airtime revenue from increased market competitiveness.
✅- Property Development & Investment: Recorded higher revenue and profit before tax in Q2 2024 compared to Q2 2023, mainly due to progress billings from Star Business Hub project.
🔧 3. Other Information
- Dividend: In respect of the financial year ended 31 December 2023 First and final dividend of 1.0 sen ordinary share, paid on 12 June 2024. No interim dividend recommended for current quarter.
- Corporate Proposal: Variation of remaining proceeds from disposal of Cityneon Holdings Limited obtained shareholders' approval. Remaining proceeds of RM66.5 million for general working capital by 30 June 2025.
- Litigation: Ongoing litigation with JAKS Resources Berhad and JAKS Island Circle Sdn Bhd. Federal Court Appeals dismissed. Suits 258 and 374 to proceed to High Court trial tentatively fixed for 25 August to 28 August 2025.
- Dividend: In respect of the financial year ended 31 December 2023 First and final dividend of 1.0 sen ordinary share, paid on 12 June 2024. No interim dividend recommended for current quarter.
- Corporate Proposal: Variation of remaining proceeds from disposal of Cityneon Holdings Limited obtained shareholders' approval. Remaining proceeds of RM66.5 million for general working capital by 30 June 2025.
- Litigation: Ongoing litigation with JAKS Resources Berhad and JAKS Island Circle Sdn Bhd. Federal Court Appeals dismissed. Suits 258 and 374 to proceed to High Court trial tentatively fixed for 25 August to 28 August 2025.
4. Prospects
❌- Challenges: Advertising industry expected to remain challenging in second half of 2024 due to geopolitical tensions and conflicts.
✅- Positive Outlook: Property Development and Investment segment expected to contribute positively to revenue and profitability. Management to explore merger and acquisition opportunities.
❌- Challenges: Advertising industry expected to remain challenging in second half of 2024 due to geopolitical tensions and conflicts.
✅- Positive Outlook: Property Development and Investment segment expected to contribute positively to revenue and profitability. Management to explore merger and acquisition opportunities.
⚠️ 5. Conclusion on Investment
Determining if it is worth investing in Star Media Group Berhad is complex. While the property development and investment segment shows promise and has contributed positively to recent financial performance, the challenges in the advertising industry (print, digital and events, and radio broadcasting segments) pose risks. The ongoing litigation and uncertainties in the economic environment due to geopolitical tensions also add to the risk profile. However, management's plans to explore merger and acquisition opportunities and ensure operational efficiency may mitigate some risks. Overall, a comprehensive analysis considering various factors such as risk tolerance, investment goals, and market conditions would be needed to determine if it is worth investing.
Determining if it is worth investing in Star Media Group Berhad is complex. While the property development and investment segment shows promise and has contributed positively to recent financial performance, the challenges in the advertising industry (print, digital and events, and radio broadcasting segments) pose risks. The ongoing litigation and uncertainties in the economic environment due to geopolitical tensions also add to the risk profile. However, management's plans to explore merger and acquisition opportunities and ensure operational efficiency may mitigate some risks. Overall, a comprehensive analysis considering various factors such as risk tolerance, investment goals, and market conditions would be needed to determine if it is worth investing.
Disclaimer: Only for educational purposes, not a buy/sell call. Please consult your professional financial advisor.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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