New Media Lab (1284) H1 2024 earnings summary

Executive summary

• H1 revenue was HK$102.618m vs HK$101.732m; reported net profit rose 112.1% to HK$7.022m from HK$3.308m. Excluding H1 2023 listing expenses, profit was lower YoY at HK$7.022m vs HK$7.295m.

• Digital advertising generated 96.5% of revenue; an interim dividend of HK1.67 cents per share was declared.

Financial highlights

• Profit before tax was HK$8.516m vs HK$4.913m; income tax expense was HK$1.494m vs HK$1.605m.

• Basic EPS was HK1.17 cents vs HK0.74 cent; total comprehensive income was HK$6.987m vs HK$3.304m, including HK$35k of FX translation losses in H1 2024.

• Other income and gains increased to HK$3.316m from HK$0.754m, including HK$2.705m in government subsidies.

Outlook and guidance

• Plans include broadening content around popular topics and enhancing digital platforms and market coverage, with value-creating opportunities.