Mobile Games Power MNC Media Investment's Turnover Surges to US$27m in 1H2014
- Mobile games sales in China soared more than four-fold to US$18.3million in 1H2014 from US$4.0 million in 1H2013
- Parenting portal "Fumubang" in China reaches 400,000 targeted users within first year of launch
- Cash per Chess Depositary Interests ("CDIs") as at 30 Jun 2014 is US$2.90, which is close to two times of current valuation
SINGAPORE, Aug. 29, 2014 /PRNewswire/ -- Within six months of its repositioning, MNC Media Investment Ltd (ASX: MIH) ("MNCMI" or "the Group"), a provider of media and entertainment content and services in key strategic markets in Asia, has seen its sales soar to US$27.0 million in 1H2014.
Hary Tanosoedibjo, Chairman and CEO of the Group said: "The Group's repositioning and transformation have borne fruit. Our strategic focus on digital games – particularly mobile games in China – has given us a shot in the arm – driving our performance up significantly in the first six months of this year. Compared to same period last year, we reduced our losses by 63% to US$1.9 million.
"With the positive results garnered from our vigorous efforts in the digital games/mobile games industry, we believe that our games will continue to build greater traction in our key market, China - in the coming months.
"We will focus on building a rich portfolio of media assets focusing on mobile games, social commerce and leisuretainment industries, in populous markets such as China and South East Asia. With a population of more than 200 million in Indonesia, the world's fourth populous country, and 1.3 billion in China, the world's most populous country, the opportunities for growth are extensive. We are confident that our prospects for the full year will be positive."