JAKARTA. PT Mahaka Media Tbk (ABBA) recorded a loss of Rp 19.6 billion in the 2018 fiscal year, after experiencing a loss of Rp 27.78 billion in the previous year.
The company, which is engaged in the media, printing and advertising sectors, said that the loss in 2018 was mainly caused by the decline in revenue from a number of business lines. The newspaper and book sales revenue was declined by 8.4% to Rp 92 billion in 2018. For information, this business line dominated ABBA's revenue in 2018.
Almost all revenues from the business line run by ABBA in 2018 million have declined. The revenue of event organizer business line in 2018 was recorded to drop by 13.55% to Rp 43.44 billion, Media Buying business lines' revenue fell by 0.73% to Rp 24.14 billion.
Meanwhile, revenues from the television broadcasting business line in 2018 dropped drastically by 48.17% to Rp. 23.31 billion. Other business revenues grew by 17.9% to Rp 2.7 billion in 2018. While the outdoor media business did not contribute to ABBA's revenue at all this year. (KR/AR)