[%SCDB%] 
Research by Kenanga
Underperform - TP RM0.11

"Anchored by its Travel Business"

MEDIAC’s 1QFY25 results exceeded our expectations on the back of better-than-expected opex savings and lower depreciation. Although pretax profit at the travel segment more than tripled YoY, it was still insufficient to fully offset losses at the print and publishing segment. We narrowed our FY25F and FY26F losses to RM24.7m and RM22.3m, respectively, (from RM38.5m and RM35.9m), but maintain our TP of RM0.11 and UNDERPERFORM call.

Analyst:
Kylie Chan Sze Zan 
[%VxZK%]

$KLSE-MEDIAC 
Research by Kenanga
Underperform - TP RM0.11

"Anchored by its Travel Business"

MEDIAC’s 1QFY25 results exceeded our expectations on the back of better-than-expected opex savings and lower depreciation. Although pretax profit at the travel segment more than tripled YoY, it was still insufficient to fully offset losses at the print and publishing segment. We narrowed our FY25F and FY26F losses to RM24.7m and RM22.3m, respectively, (from RM38.5m and RM35.9m), but maintain our TP of RM0.11 and UNDERPERFORM call.

Analyst:
Kylie Chan Sze Zan 
kyliechan@kenanga.com.my

$MEDIAC / 5090 (MEDIA CHINESE INTERNATIONAL LIMITED)