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Germans are generally more conservation that Americans. Here, they are even more conservation that Asians.
SINGAPORE, July 12 (Reuters) - Singapore Press Holdings will be in focus on Thursday after the newspaper publisher reported a decline in third-quarter profit.
U.S. stocks rose on Wednesday as a scarcity of profit warnings fuelled optimism over the corporate reporting season, enabling the market to regain its footing after a sharp drop the previous session.Stocks and factors to watch:- Singapore Press Holdings (SPH), Southeast Asia's biggest newspaper publisher, reported a 8.5 percent decline in third-quarter profit after earnings in the previous year were boosted by a one-off gain.Deutsche Bank said in a note that SPH's nine-months results was above its expectation, but it remained concerned on the circulation for the company's flagship Straits Times newspaper, which has been falling for three straight quarters.Deutsche Bank has a "hold" call on the stock with a price target of S$4.30. SPH last traded at S$4.50.
What happened to earlier predictions of 5.20 etc by other houses?
Please correct me if I am wrong as I am still learning to read the Balance Sheet and Cash Flow report.......CASH FLOW NO GOOD! Although SPH posted a "favourable" result this quarter, nett profit rising to $160M, more than 50% from last quarter's earning if last quarter strip off exceptional gain, the Operating Cash Flow is registering a negative $16.3M. I guess this shows that whatever $$ they received was not enough to run/operate the quarter. Even if they registered a positive 9.7M last quarter, it's not enough for a big organisation like SPH! But a consolation at the end SPH nett cash flow is $245.8M, thanks to the cash received from Investment of $60M (probably from M1). Then I digged further to see Cash Flow for the last 5 years and the results does not show favourable to us....Probably because of that, this counter has been a laggard for such a long time. I think I will be out soon. If there are any of you out there say I am wrong about my finding, and SPH is still a solid company, I am willing to stay. I don't quite like to abandon a blue chip like SPH who is a monopoly in the media industry. PLEASE ADVISE ME! Thanks.
Yes....i'm holding this for it div....better then put in fixed D.
kind of disppointed as i bought 2 counters last year end, SPH and OCBC, then cash tight so decided to give SP Land a missed.......SP Land chiong like no tomorrow, this 2 like.......SPH -snail, OCBC - elecphant (steady but at least moving :)
the only mistake i made is using CPF as the holding costs is much higher...
I still feel this is a good counter... has strong Fundamental... although price is lagging by other counters ALOT!! but i am ok.. since divy returns is still better than parking my $ in the bank.. keke... i treat as long term deposit.. haha..
Cheers,
Anything.
SINGAPORE, 11 July 2007
reported its results for the third quarter ended 31 May 2007. The Group
registered a 15.2% increase in operating profit* of $14.3 million to $108.8 million.
Profit before exceptional items was up 48.3% to $186.1 million. Net profit was
$159.8 million compared to previous year?s $174.6 million which included an
exceptional gain of $69.1 million.
The Group?s operating revenue rose 8.4% to $288.1 million. Newspaper and
Magazine operations increased 7.8% to $255.7 million on the back of strong
growth in print advertisement revenue which saw a surge of 10.4% to $195.6
million. Property operations posted a 6.6% revenue increase to $26.0 million.
Total operating expenses increased by 5.0% to $182.2 million. This was due
mainly to staff costs which were 12.0% higher as a result of variable bonus
provision, increased headcount and annual salary increment. Variable bonus
provision was in line with the Group?s higher operating profits and the Group?s
new performance-based incentive scheme. Total headcount in May 2007 was
3,684 compared to 3,583 a year ago because of the acquisition of new
subsidiaries and staffing for new media businesses.
Group investment income was up 139.1% to $75.3 million. This comprised
mainly net profit on sale of investments and profit from a capital reduction
exercise by MobileOne Limited.
? Singapore Press Holdings Limited (SPH) today
2
For the nine months ended 31 May 2007, the Group registered a 6.9% increase
in operating profit* of $19.5 million to $300.1 million. Profit before exceptional
items was up 25.3% to $440.1 million. Net profit was $380.1 million compared to
previous year?s $357.6 million which included an exceptional gain of $69.1
million.
Commenting on the outlook for the rest of the financial year, Mr Alan Chan, Chief
Executive Officer of SPH said: ?Print advertising looks promising as the economy
is doing well. Paragon is generating healthy rental yields amidst strong
sentiments in the property market. The Group is strengthening its presence on
various new media platforms and extending its reach beyond the core newspaper
business. Barring unforeseen circumstances, the Directors expect the Group to
perform better than last financial year.?
Tks Anthony., My dad said the same thing.
Be patience man..Fundamentally this is a good counter. This is a game of patience.When the price move up, herd's instinct will follow. Good luck to you. Cheers
Really fed up man, This stock is really an ELEPHANT as u people have called it. Despite all the reports from research firms predicting 5.25 or higher it still does not budge at all. I wonder why??? I look at the market & see stupid worthless penny stocks rising like crazy while a solid company like this does not go up. Hmmmmm.
agathos,
Think your post is more appropriate in the SPC thread.
This thread, SPH is in the newspaper business.
Yes, SPC bought about 5% TAP OIL of Australia....but I read in a statement from TAP that SPC has since liquidated the stock.
Dear Share Junction frens,
Hi there! This is David writing from Perth. My 2 cents worth - I think the OIL stocks in Australia is worth looking
into. Speaking of SPC, some of you who are savvy may have read about how an oil company in Singapore bought
into a bit of an Aussie oil company with drilling rights all over Aussie, Philippines, etc. Cheers, David.
SPH's TA charts look relatively bearish. Today's large price drop with larger than average volumes is not a good sign.
Agree... very disappointed with this counter. Should have unloaded too
aleady unloaded in the recent run-up. much better roi when investing in construction stocks
This elephant is also tamed by a trainer namely the gahment so it will continue to be a big elephant in this industry in SG.
Todays sell down will definitely makes the chart looks ugly.
Patient, still can wait.
is this a good price to enter?
SPH is seeing some weakness in its price today. Good monopolistic business but have not seen good growth yet. PE is reasonable at about 18 times. Will be a good stock to keep for medium term if the PE is lower.
