Singapore – MediaCorp has announced a 7.5% rise in operating profit to S$44.4 million for the year ended 31 March 2012.

According to the broadcaster, this growth was achieved on a 6.7% increase in total revenue to S$629.4 million, buoyed by strong advertising revenue growth. Net profit before tax was S$187.6 million, which includes a gain on disposal of investments and property of S$125.5 million.

Industry recognition for its quality content and innovative marketing came via over 50 international and regional awards won during the year, including the Asian Television Award for Terrestrial Broadcaster of the Year.

Other highlights of the year include a second international channel (8i); the launch of a S$5 million Content Innovation Fund, which is open to anyone here and abroad with good concepts; the first television co-production with a Japanese broadcaster; and a first interactive drama on xinmsn.com.

Looking ahead, Shaun Seow, CEO of MediaCorp, expects a challenging economic environment because of the Eurozone crisis and a softening American economy. “We’re seeing advertisers pulling back on advertising spending in view of the uncertainties. But MediaCorp wants to work with partners to forge win-win solutions and weather the storm together.”