Kuala Lumpur – Media Prima Berhad (MPB) announced a profit after tax and minority interests (PATAMI) of RM194.8 million for the financial year ended 31 December 2009 against RM86.02 million achieved in 2008. The solid earnings came on the back of the recovery of the Malaysian economy that gained pace from the early second half of the year, coupled with increased efforts by MPB in boosting its top line figures. Although the Group’s revenue of RM744.02 million for 2009 was 4.8% lower than 2008, the Group has been successful in significantly narrowing down the decline in revenue, which reached 11.5% at the peak of the economic downturn in the first quarter of 2009. The declining trend has been reversed in the fourth quarter of 2009, which registered a growth of 4.6% against the same quarter of 2008. The Group has also recorded negative goodwill of RM216.1 million from the acquisition of the New Straits Times Press (Malaysia) Berhad (NSTP) and net losses of RM57.1 million from the divestment of the Group’s subsidiary in Philippines, Primedia Inc. Media Prima Berhad also announced fresh changes and new introductions to its senior management team. Ahmad Izham Omar will take on the role of Executive Director of 8TV, the station he launched in 2004. As Executive Director, Izham will stay involved in 8TV’s strategic direction but will leave the day-to-day operations to General Manager Lam Swee Kim who will be reporting to Dato Sri Farid Ridzuan, Group Chief Executive Officer of Media Prima Television Networks. Ahmad Izham Omar will now be able to focus on Alt Media, a Media Prima subsidiary focusing on new media, underlining MPB’s emphasis in the digital space. Izham has been CEO of Alt Media since January 2009. Izham will maintain his role as Head of Radio of Media Prima Radio Networks, which owns the radio stations Hot FM (Malaysia’s no.1 radio station), Fly FM and One FM. MPB also announced the appointment of Mohamad Ariff Ibrahim as the new Group Chief Financial Officer of MPB effective 16 April 2010, replacing Amil Izham Hamzah who will not be renewing his contract with MPB.
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