recorded an increase revenue of 8% compared with 2Q22. The group registered a profit before tax of RM1.2mil for the quarter compared with RM2.1mil in 2Q22. The 2Q23 revenue was 12% higher compared with RM52mil in 1Q23 with the increase in revenue arising from its print, digital and events business, as well as its property development and investment arm.
Its print, digital and events business posted a 7% increase in revenue in 2Q23 compared with 2Q22. This segment recorded a pre-tax profit of RM0.1mil in 2Q23 compared to a pre-tax profit of RM0.4mil in 2Q22 due to an increase in newsprint costs. Its property development and investment arm generated a revenue of RM2.9mil in 2Q23 compared with RM0.7mil in 2Q22 due to the launch of the Star Business Hub project. The segment recorded a pre-tax profit of RM0.4mil in 2Q23 compared with a pre-tax loss of RM1.1mil in 2Q22.