Umno-owned Utusan Melayu (Malaysia) Bhd's pre-tax loss expanded four-fold to RM82.64 million for the financial year ending on Dec 31, 2014 from RM20.39 million previously.
Meanwhile, Umno-linked Media Prima Bhd's pre-tax profit for the same period was RM101.44 million, down 65 percent from the year before.
According to Bernama, Utusan Melayu's filing to Bursa Malaysia today stated that the company suffered from lower revenue and higher impairment charges on trade and other receivables.
Revenue dipped to RM291.32 million during the year under review, from RM342.43 million on the back of weaker contribution from the publishing, distribution and advertising segment.
The revenue from these segments in the last quarter decreased by 13.5 percent, mainly due to a significant reduction in advertising.
Bernama also reports that Media Prima's review dropped to RM1.51 billion versus RM1.72 billion previously, due to market uncertainties, weak consumer sentiment and the tragic airplane incidents that saw advertisers being more cautious over placing advertisements during the period, the company said in a filing to Bursa Malaysia. - M'kini
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