Shares & Derivatives
SPH reports Q1-2015 net attrib profit of S$69.4mn down 21.9% on the back of a 6.6% decline in revenue……looks 10% overvalued……SPH Reit is a better investment vehicle
By Kevin Scully-Financial Blog  •  January 14, 2015
Wednesday, 14 January, 2015 9:30 AM Posted by Kevin Scully SPH reported its Q1-2015 results which reflected the continued weakness in its print media.  Key financial highlights are: a) revenue in Q1-2015 was S$307.1mn down 6.5% b) pretax profit was 95.9mn down 19% c) net attributable profit fell 21.9% to S$69.4mn d) EPS was 4 cents with NAV of S$2.33 Annualised PE at S$4.11 is 25.7 times with a price to book of 1.76 Expected dividend yield is 3.6% More details on its operational performance can be found in its Q1-2015 presentation slides. Commentary SPH is a blue chip company in a transition phase brought about by the growing presence of digita media.  This is a world wide trend as seen by the numbers below: a) US print circulation down 10.5% over last five years while print ad revenue ......
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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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