https://sg.news.yahoo.com/sph-news-aggregator-site-asiaone-close-090754309.html
SPH doesn't know how to grow its web media business despite having a complete monopoly in Singapore. Therefore, it is resorting to cutting manpower, closing down money-losing operation and venturing into the property business.
When SPH is ranked no. 151 out of 180 in the world press freedom ranking in 2017, it is hard to impose a subscription on readers as readers can read better quality news online for free.
https://rsf.org/en/ranking
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Recently SPH
FY17 net profit grew 32% to $350.1m, mainly lifted by a $149.7m divestment gain arising from a 33% stake sale in online classified site 701Search.
Otherwise, full-year core earnings of $200.4m (-24.5%) missed street forecasts.
Operating revenue of $1.05b (-8.8%) continued to be pressured by the core media business (-13%).
EBIT margin contracted to 19.5% (-7ppt), on impairment charges totalling $60.6m.
Final and special DPS shaved to 9¢ (4Q16: 11¢), bringing FY17 DPS to 15¢ (FY16: 18¢).
Group reducing headcount further and expects to incur retrenchment costs of $13m in 1QFY18.
Last traded at 19.1x forward P/E and 2.7% dividend yield.
Get Funadamental & Techncial Analysis of Singapore Stock Market Via http://www.mmfsolutions.sg/
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