Islamabad (TDI): Hum Network Limited (HUMNL) is optimistic about the profitability of its news segment as it anticipates a revival in government media spending in the upcoming months.
This projection was shared during an analyst briefing regarding the company’s financial results for FY24 and its strategic plans for the future, according to a report from BMA Capital Management Ltd.
The company reported a remarkable 54% year-on-year increase in its bottom-line profitability, which reached Rs. 2.95 billion during FY24.
This surge in profitability was primarily attributed to a significant improvement in revenue streams across its various segments.
During the briefing, HUMNL management highlighted that the underperformance of its news segment in recent times was largely due to the government scaling back its media spending.
The company expressed confidence that the anticipated resumption of government expenditure on media would play a crucial role in enhancing the financial viability of its news operations.
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The management emphasized the importance of government advertising as a key revenue driver for the news segment, which had struggled in the absence of robust media spending.
With positive indications of a renewed government commitment to media partnerships, HUMNL is positioning itself to capitalize on this opportunity and improve its financial performance.
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Looking ahead, HUMNL is focused on optimizing its content and expanding its audience reach, which it believes will further bolster revenue generation.
The company is committed to adapting to the evolving media landscape while leveraging government spending to enhance the profitability of its news segment.
