KUALA LUMPUR (Aug 19): Star Media Group Bhd (KL:STAR) slipped into the red with a net loss of RM231,000 for the second quarter ended June 30, 2025 (2QFY2025), against a net profit of RM7.49 million a year earlier.
Quarterly revenue fell 30.5% year-on-year to RM51.5 million from RM74.13 million.
The group attributed the weak performance to relatively lower contributions from its property development segment, due to higher progress billing from the Star Business Hub project a year ago, according to its filing to Bursa Malaysia.
The group was last in the red in 1QFY2024, when it reported a net loss of RM193,000.
For the quarter under review, its operating expenses stood at RM54.8 million, which was higher than its revenue. Nonetheless, other operating income of RM3.773 million helped earn the group a profit from operations of RM455,000, compared with RM7.72 million a year ago.
In the breakdown of segmental revenue and pre-tax profit, the “others” segment incurred a pre-tax loss of RM4.94 million on revenue of RM5.4 million. The segment also posted a loss of RM4.28 million but revenue was higher at RM7.08 million in 2QFY2024.
No dividend was declared for the quarter under review.
Its property development and investment segment booked revenue of RM4.4 million, down 83% from RM25.6 million in 2QFY2024, with pre-tax profit sliding to RM2.3 million from RM10.6 million previously.
Meanwhile, the print, digital and events segment’s revenue eased 2% to RM42.1 million from RM43.1 million amid softer advertising demand, which the group attributed to a challenging economic landscape shaped by US tariff threats and geopolitical tensions in the Middle East. Still, the segment delivered a higher profit before tax (PBT) of RM2.7 million versus RM1 million a year earlier, due to better operating cost controls.
The radio broadcasting segment posted a slight uptick in revenue to RM6.4 million from RM6.3 million, with profit before tax rising to RM230,000 compared with RM190,000 in 2QFY2024.
For the first half of FY2025, Star Media’s net profit plunged 98.9% to RM83,000 from RM7.29 million a year earlier, as revenue contracted nearly 13% to RM110.94 million from RM127.43 million.
Looking ahead, the group said it remains confident in its “resilience and adaptability” despite macroeconomic headwinds from shifts in US foreign policy and ongoing geopolitical tensions. The group added that it continues to pursue revenue diversification and sustainable profitability growth while maintaining disciplined cost management.
Cash-rich Star Media’s share price closed unchanged at 38 sen on Tuesday, valuing the group at RM280.65 million. Year to date, the counter has fallen 5%. The group is sitting on a net cash pile of RM352.5 million as at end-June.
