Laba Media Nusantara Citra grew by 24.71% in the first half of 2021.

In its published financial report, PT Media Nusantara Citra (Persero) Tbk recorded a net profit of Rp 1.19 trillion in the first half of 2021, up 24.71% compared to the same period last year. Earnings per share also increased from Rp 77.17 to Rp 90.08.

The media company, traded on the Indonesia Stock Exchange (BEI) under the code MNCN, booked revenue of Rp 4.86 trillion for the first half of 2021. This figure increased by 22.59% compared to the first half of the previous year.

Specifically, digital advertising revenue more than doubled to Rp 889.19 billion in the first six months of this year. Non-digital advertising revenue also grew by 15.57% to Rp 3.71 trillion. Meanwhile, content revenue decreased by 10% to Rp 727 billion.

MNCN's assets grew by 5.67% to Rp 19.99 trillion in the first half of 2021. Similarly, its equity increased by 12.97% to Rp 16.34 trillion. Consequently, its liabilities decreased by 17.98% to only Rp 3.66 trillion.

The improvement in financial performance did not automatically translate into a positive share price movement. The MNCN share price closed at Rp 875 on August 31, 2021. This means the share price of the private television station has fallen by 23.23% since the end of 2020 (year to date/ytd). The MNCN share price also closed down 3.43% to Rp 845 on September 1, 2021.