Karachi November 3 2021: Hum Network management is monitoring company’s performance very carefully and the risks associated with COV1D-19 and were extremely focused on tightly managing our costs and cash flows.
“Delivering quality content has positioned us to better respond to the changing viewers' habits and to take advantage of the continued strong demand for quality content internationally” says Duraid Qureshi company Chief Executive Officer.
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He added that “By investing In our products and services. we will deliver our content in ways that work for all our stakeholders now and in the future, which means continuing to provide premium quality broadcasting in order to satisfy stakeholders' demand for greater flexibility in future.”
“We have taken difficult decisions to deal with the COVID-19 crisis, but this has enabled us to continue to invest In and successfully execute our strategies. We have implemented new strategies during these crisis to drive more efficiencies and effectiveness” says Mazhar Ul Haq Siddiqui company Chairman.
Chairman added “Our business and financial strategies, and the operational decision are designed to move HNL from strength to strength. and to ensure that its independence is preserved in a sustainable way.”
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As an enterprise Hum Network is well placed to deliver much better growth forward backed by company’s well-defined business strategies, excellent infrastructure and robust board are confident about what they need to do to ensure that they emerge as an even more resilient, digital and future focused media and entertainment business.
FY2021 was an unprecedented year on all counts, and it challenged us at several levels. Despite the disruption caused by the COV1D-19 pandemic, we tried our best to ensure normal operations and were able to insulate the business from the economic slowdown. During the year, our net revenues increased by 13% due to positive growth in all revenue streams especially the subscription revenue which witnessed a comparable growth of 46% from last year.
This shows the resilience of our business and our abll RI) to navigate temporary setbacks created by external factors however, as the competition in all the segments we operate in remained intense, we did not reduce our investments in quality content
The gross profit of the Company increased by PKR 838 million compared to last year resulting in gross profit margin of 37% Y2020: 21.3%).
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The reason of Significant increase was mainly due to efficient cost management strategies and effective cost cuttings which resulted in maintaining the cost within the required parameters.
The Company earned a profit after tax of PKR1,014 million in FY2021 as compared to loss after tax of PKR 113 million in FY2020 resulting in earnings per share of PKR 1.07 in FY2021 compared to loss per share of PKR 0.12.
HNL is in doubtedly one of the leading media networks of Pakistan and has predominantly been an entertainment provider for more than a decade now. HUM is already Pakistan's most admired media brand, and our content reaches millions of people through our domestic and international bouquet of channels and multiple distribution platforms worldwide, films, digital, print media and live events. Broadcasting portfolio consists of sate/Cite channels namely HUM TAI, HUM News, HUM Sitaray, HUM Masala and HUM World (including separate beams for North America, UK & Middles East).