Asia Media raising profit margins by 50pc

Kuala Lumpur: Asia Media Group Bhd, the country's largest transit-TV network operator, is increasing gross profit margins in the current year by 50 per cent, its controlling shareholder Datuk Ricky Wong Shee Kai said.

Thirty-year-old Wong, who has a first class honours in finance from Lancaster University in UK, owns slightly more than 45 per cent of the company.

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Asia Media is expected to announce its results in a day or two.

Market expectation is nothing less than a 100 per cent growth in net profit for the first quarter ended March 31 2011, from its group level net profit of RM2.17 million posted in the final quarter of 2010, if the company is to match analysts' expectations.

TA Securities, in a report, said Asia Media is forecast to post re-venue of RM31.6 million, alongside a gross profit of RM16.5 million, while net profit is expected to be in the range of RM11.9 million.

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