JAKARTA (Yosefardi) – PT Media Nusantara Citra Tbk (MNCN) cuts its revenues target for advertising to below 10% for this year, from initial target of 16-20%, as the free-to-air industry is not impressive due to impact of general election and the poor development of the country’s economy.
In the first half of 2014, MNCN only posted a single digit growth for advertising revenues, only grew by 8.68% to Rp3.13 trillion, compared to Rp2.88 trillion in the same period of 2013.
MNCN booked total revenues of Rp3.37 trillion in the period, grew by 7.6% from Rp3.13 trillion in the first half of 2013. It posted net profit of Rp1.04 trillion, compared to previous Rp1.02 trillion.