Selangor, 29 February 2024 – Seni Jaya Corporation Berhad (“Seni Jaya” or “Company”), out-of-home (“OOH”) media specialist & comprehensive solutions provider, today announced its financial results for the fourth quarter ended 31 December 2023 (“Q4FP2024”).
For the quarter under review, Seni Jaya reported an 18% and 630% increase, in revenue and profit after tax and minority interests (“PATAMI”) to RM14.6 million and RM5.8 million respectively.
For the 12 months ended 31 December 2023 (“12MFP2024”), the revenue and PATAMI increased by 23% and 117% to RM46.7 million and RM15.9 million respectively. On a normalised basis the profit after tax in turn surged by 85% to RM5.9 million. Overall, the impressive growth was attributed to strategic investments in digital billboards, which had attracted new advertisers and generated higher value with better profit margins.
On 1 December 2023, Seni Jaya had ventured into entertainment industry by organising the B*VERSE Exhibition (BTS Exhibition), which not only complemented its core business but also leveraging on billboard advertising to boost revenue, laying a strong foundation for sustained growth.
Late last year, the Company changed its financial year end from 31 December 2023 to 30 June 2024. The current financial year will therefore end on 30 June 2024, covering a period of 18 months.
Commenting on the financial results, Seni Jaya chief executive officer Jeff Cheah See Heong said, “The strong results achieved are attributed to our relentless pursuit of reaching greater heights. Since the beginning of our 3-year transformation journey in mid-2021, we have been aggressively acquiring DOOH advertising related assets in prime locations, and this strategic initiative has started to yield positive results, where the revenue recorded a 3-year CAGR of 74.4%.
Moving forward, we are anticipating a steady increase in demand for outdoor advertising and, we look forward to consistently add value to the comprehensive solutions we provide for a wide range of businesses and brands. Additionally, we are currently upgrading certain static sites to digital billboard, unlocking full potential of our core business.”