KUALA LUMPUR: Media Prima Bhd’s (MPB) net profit for the third quarter ended Sept 30, 2009 (3QFY09) fell 48% to RM17.26 million from RM33.59 million a year ago.

According to a Bursa Malaysia filing on Nov 26, MBP’s revenue dipped 3.7% to RM206.35 million from RM214.23 million compared with the corresponding period a year ago, while it posted basic earnings per share of 2.02 sen versus 3.96 sen the previous year.

However, MBP said it performed significantly better during 3QFY09, compared to the RM178 million revenue earned in the previous quarter, adding that the improvement could be attributed to increased spending by advertisers amid an improving local economic environment, as well as the group’s efforts to boost revenue.

It noted that the increase in revenue, coupled with stringent cost-control measures and improved operational results in its associate company, New Straits Times Press (Malaysia) Bhd, had enabled MPB to record a pre-tax profit from continuing operations of RM49.6 million for the current quarter, which is more than double the pre-tax profit of RM23.9 million in 2QFY09.

Revenue for the nine months ended Sept 30, 2009 shed 8.2% to RM525.53 million from RM572.36 million in the same period last year due to lower advertising revenue, especially in Television Networks, given the adverse economic conditions.

Pre-tax profit for the nine months stood at RM64.22 million as compared to RM107.06 million in the corresponding period last year.

Through cost austerity measures, MPB had kept its operating expenses to 5% below the amount incurred in the previous period.

On its prospects, the group said it was committed to maintain its industry leadership position and its earnings through continued investment in quality programming and branding.

MBP’s share price Nov 26 closed unchanged at RM1.74 with 470,000 shares done.