Thursday, November 25, 2010

Yippee! Utusan in the red !!

Utusan Melayu (Malaysia) Bhd reported a pre-tax loss of RM10.682 million, for the nine months ended Sept 30, 2010, against a pre-tax profit of RM1.707 million chalked up in the corresponding period last year.

Revenue declined to RM244.564 million from RM253.847 million previously due to less advertising contribution, it said in a filing to Bursa Malaysia today.

For the third-quarter ended Sept 30, 2010, Utusan recorded a lower pre-tax profit of RM1.736 million from RM10.128 million registered in the same quarter last year.

However, revenue increased to RM89.540 million, during the period under review, from RM89.530 million previously.

Utusan said intense competition for advertising marketing share expenditure, not only among the print media, but also among all media channels has affected the group's performance for the period under review.

The factor would remain as a challenge to the group for the remaining period of 2010, it said.

"Nevertheless, the expected positive growth of Gross Domestic Product this year and next year are expected to stimulate advertising expenditure and provide an opportunity for the group to increase its advertising revenue," it said.

- Bernama

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