*

MariaSharpie

  • Banned
  • 2349 5
    • View Profile
Nikkei Asian Review reported on Wed that the once “mighty” Singapore Press Holdings (SPH) continues to lose advertisers and investors and has now got most of its earnings from property (‘Singapore Press Holdings loses advertisers and investors’, 10 Apr).

“Once a sought-after stock due to its substantial dividend, SPH has seen its star fade as advertisers and subscribers moved online and away from traditional newspapers and magazines,” Nikkei wrote.

On Tues (9 Apr), SPH reported that its net profit for the quarter ended February plunged 25.7% to S$29.7 million, dragged by lower media revenue and fair value losses on investment properties. The result was well below the S$52.95 million consensus estimate of market analysts.

SPH said that the 10.1% decline in media revenue to S$296.2 million in the six months to February was partly due to the shorter festive advertising window between Christmas and Chinese New Year. This year’s festivities began on Feb. 5, while in 2018 they started on Feb. 16.

The interim dividend was also cut. Between 2014 and the latest financial year ended last August, its annual dividend has fallen 38%.

It’s share price has been falling non-stop from more than $4 during 2015 GE days to yesterday’s (11 Apr) closing of S$2.44

More at https://tinyurl.com/yxc96fof