SPH (S'pore Press Holdings) may be a bluechip stock currently being a monopoly of the traditional print media in S'pore as well as functioning as the current govt's propaganda mouthpiece. Like other traditional print media in other countries it also faces declining readership.
Its foray into property alarms me especially with its highest bid for the mall where i live. Its winning bid outmargin the 2nd highest by a big margin. Even Starbucks is feeling the heat from the frickin' killer rents which is the only outlet with a 'booth' like premises instead of a shop space that i'm aware of.
When this property speculation & property bubble bursts, this property aspect of its business would pull down the already battered print media business- is a no brainer what will happen to its stock price.
SPH reports net profit of $97 million for 1st quarter
SPH reports net profit of $97.5 million for the first quarter of 2012, which is $4.8 million or 4.7% lower compared to the first quarter of 2011.
Group recurring earnings rose by 4.2% to $121.2 million, compared to the corresponding quarter in 2011.
A strong showing from the property segment & improved performance from the Internet & exhibitions businesses cushioned the decline in the newspaper & magazine segment.
Investment income fell 90.3% year-on-year to $0.6 million as a result of unrealised foreign exchange losses on investments arising from volatility in the financial markets.