Singapore Press Holdings Limited (SGX: T39) (SPH) is Asia’s leading media organisation with three business segments — media, property and others. It is also the owner of well-known publications such as The Straits Times and The Business Times.
Just yesterday, the company released its earnings for the full year ended 31 August 2019 (FY2019). The media business is still struggling, with no immediate respite in sight. Let’s dive further.
TL;DR: Lower Profitability And Dividend At SPH Revenue fell 2.4% year-on-year while net profit plunged 23.4%; Dividend for FY2019 cut some 8%; Current dividend yield high at around 6%, but doesn’t look sustainable; Staff retrenchment at the media business. Show Me The MoolahThe following shows how SPH’s different business segments performed for FY2018 and FY2019:
FY2019(S$'000) FY2018
(S$'000) Change
% Media 576,881 655,782 (12.0) Property 296,512 242,417 22.3 Others (Incl. Aged Care) 85,862 84,356 1.8 Total 959,255...