Malaysia’s largest newspaper and magazine publisher, Media Chinese International has reported nearly 34% fall in its net profit the fiscal Q3. The company has sited weaker publishing and printing segment as the key reasons behind the fall.
Net profit for the three months ended Dec. 31 was 11.13 million ringgit ($2.85 million) against 16.83 million ringgit a year ago. Quarterly revenue was 5.8% lower at 274.34 million ringgit compared to 291.18 million ringgit for corresponding period previous year.
Media Chinese International plans to grow its digital business and strengthen cross platform marketing efforts. It will also be continuing cost optimization initiatives across all operating units.