Aug 3, 2010

Media Nusantara 1H profit up 58.80%

The parent company of TV station RCTI, PT Media Nusantara Citra Tbk (MNC), scored Rp396.89 billion or Rp29 per share in the first half of 2010.
In its financial report, Media Nusantara noted an increase of net income by 58,80%, compared to the same period last year of Rp249.93 or Rp18.2 per share.
The increase is boosted by a growth of the company's revenue by 21.62% at the end of June this year.
Media Nusantara, a subsidiary of PT Global Mediacom Tbk (BMTR), recorded first half income of this year was Rp2.25 trillion, a growth of 21.62% compared with same period last year of Rp1.85 trillion.
The biggest contributor to Media Nusantara's revenue was derived from advertising amounted to Rp1.79 trillion at the end of June 2010.
As a result, Media Nusantara's operating income grew by 74.46% from Rp353.03 billion first half of 2009 to Rp5.91 billion in first half of this year.
Controlling shareholder of Media Nusantara are Global Mediacom of 71.72%, Mediacorp Investment Pte Ltd of 6.85% and public of 21.42%.
Today, MNCN is stagnant at the level of Rp300 per share. Meanwhile, the market capitalization reached Rp4.13 trillion, with price to earnings ratio of 7.70 times.

Disclosure: No position at the stock mentioned above.

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