Kuala Lumpur, 29 August 2022 – Main Market-listed leading provider of outdoor advertising services, Seni Jaya Corporation Berhad (“Seni Jaya” or the “Group”) (“盛艺集团”) has today announced its second quarter (“2QFY22”) and six months financial results for the period ended 30 June 2022 (“1HFY22”).
Quarterly revenue jumped sixfold from RM1.5 million in 2QFY21 to RM8.7 million in 2QFY22. In tandem with the top line increase, the Group turned in a profit after tax of RM1.0 million. This was a RM2.9 million improvement against the net loss of RM1.9 million in 2QFY21.
For 1HFY22, Seni Jaya reported revenue of RM17.2 million, which also rose by sixfold on a year-on-year (“YoY”) basis. Correspondingly, its bottom-line turned around from a net loss of RM3.5 million in 1HFY21 to a profit after tax of RM1.5 million in 1HFY22.
Chief Executive Officer (“CEO”) of Seni Jaya, Mr. Cheah See Heong (“Jeff Cheah”) (“谢诗峰”) said, “We are pleased to have sustained the recovery momentum thus far. In 2022, we are seeing the full effect of the reopening of economy with most of the people back at the office. As a result, traffic on the road has also returned to normal which justified higher advertising spending on billboards from our clients.”
“Aside from the conducive operating landscape, the strong recovery registered was also attributed to the business transformation plan we embarked on in mid-2021. Our strategy to accumulate and widen the coverage of our billboard assets during the down period had paid off today. Apart from sheer numbers, we have also added assets with premium pricing such as mega-size billboards and digital billboards.”
“On that note, the Group is delighted to share that our spectacular digital gantry was completed and operational with healthy demand and feedback from our customers. The spectacular digital gantry is located in Kelana Jaya along Damansara–Puchong Expressway or Lebuhraya Damansara–Puchong (“LDP”) and covering both ways of the traffic. It is the first-of-its-kind and the only giant digital gantry along LDP that enables our customers to share a more impactful story or message.”
“Moving forward, we are cognizant of the challenges ahead with inflation soaring across the globe. Though, now that we are one of the largest out-of-home advertising companies in the country, we are on much better and stronger footings to withstand these external factors. Our broad customer base doesn’t just constitute consumer brands but also sectors such as education, healthcare, and government-linked companies,” Jeff Cheah added.
On a quarter-on-quarter (“QoQ”) basis, the Group’s top-line increased marginally from RM8.6 million in 1QFY22 to RM8.7 million in 2QFY22. Over the same period, profit after tax surged 102.2% from RM0.5 million to RM1.0 million.