RHM revenues down after altering strategy

Resource Holding Management, a media firm focused on China and Malaysia, saw revenues drop in the first half after it decided to go after higher margin clients.Revenue in the six months to the end of June fell by 28% to 20m Malaysian ringgits (RM), around £4m.Profit before tax was flat at at RM4.5m, while earnings per share dropped by 5.7% to 12.13 sen.Chairman, Datuk Oh Chong Peng, said during the period his firm had focused on profitability by offering more, high margin advertising products and services such as out-of-home and digital media. "This strategy also required us to offer less of the conventional media services and products, where margins tend to be very low yet contribute significantly to the top-line," he said."As a result, the group saw an expected decrease in revenue, though gross profit and profit before tax levels are at par with the first half of 2011."