Operating profits include the recurring media AND property business, property income exclude valuation gains but is before accounting for minority interest.
So, we can see the media business is still deteriorating.
Property income is stable and growing, but after accounting for minority interest, will still be a falling number, not enough to offset the fall in media business.
Display advertisement fees is still very weak, and although Singapore has some quarters of strong GDP from 2Q 2013, it does not show in the advertisement revenue generated. All segments of advertisements show weakness.
Without the one off gain from the partial disposal of 701 stake, Q2 numbers will be horrible.
Well, the only thing to look forward ......SPH Q2 results was out.
I only want to find out 2 things.
1) Is its media business still deteriorating?
2) Is property segment able to offset the deterioration?
Here are the numbers.
Operating profits include the recurring media AND property business, property income exclude valuation gains but is before accounting for minority interest.
So, we can see the media business is still deteriorating.
Property income is stable and growing, but after accounting for minority interest, will still be a falling number, not enough to offset the fall in media business.
Display advertisement fees is still very weak, and although Singapore has some quarters of strong GDP from 2Q 2013, it does not show in the advertisement revenue generated. All segments of advertisements show weakness.
Without the one off gain from the partial disposal of 701 stake, Q2 numbers will be horrible.
Well, the only thing to look forward ......
Operating profits include the recurring media AND property business, property income exclude valuation gains but is before accounting for minority interest.
So, we can see the media business is still deteriorating.
Property income is stable and growing, but after accounting for minority interest, will still be a falling number, not enough to offset the fall in media business.
Display advertisement fees is still very weak, and although Singapore has some quarters of strong GDP from 2Q 2013, it does not show in the advertisement revenue generated. All segments of advertisements show weakness.
Without the one off gain from the partial disposal of 701 stake, Q2 numbers will be horrible.
Well, the only thing to look forward ......
