THE anticipated turnaround at Media Prima Bhd seems to have piqued investor interest in recent months as its share price had more than doubled to 34 sen last Monday from 14 sen in October 2020, just as the second Conditional Movement Control Order (CMCO) was implemented in several states.
The media group returned to the black with a net profit of RM12.43 million for the third quarter ended Sept 30, 2020 (3QFY2020), from net losses of RM20.1 million in the previous quarter and RM24.16 million a year ago, on the back of improved revenue and lower operating expenses. Revenue rose 1.21% to RM268.77 million from RM265.55 million the year before.
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