SINGAPORE (Yosefardi) – Australian listed MNC Media Investment Ltd, a provider of media and entertainment content and services in key strategic markets in Asia, has achieved record sales of US$42.4 million in first half of 2015 (1HFY2015).
This is an almost 82% jump from its revenue of US$23.3 million in 1HFY2014. The Group’s turnaround was powered largely by its focus on two high-growth sectors — mobile games and social-e-commerce in China.
Group’s mobile games business makes up about 74% of overall sales and its social e-commerce business, and accounted for about 13% of total revenue. The Group’s other businesses also chalked up higher sales rising by 18% from US$5 million in 1H 2014 to US$5.9 million in 1H 2015.
With the surge in sales, the Group narrowed its net loss to US$0.2 million, from its net loss of US$1.9 million in 1HFY2014. Another contributing factor was the unrealised gain from the Group’s investments in quoted securities.
The unrealised profit of US$7.9 million was partially offset by the unrealised foreign exchange loss of US$5.7 million due to the depreciation of the Indonesian Rupiah against the US Dollar.
MNC Media Investment Ltd’s shares are listed on the Australian Stock Exchange. It is a subsidiary of PT Global Mediacom Tbk — which owns one of the largest and most integrated media groups in Southeast Asia.