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SPHs profit down 14% amid muted economic scene
Singapore Press Holdings (SPH) reported a 14.4 per cent year-on-year drop in net profit to $69.6 million for the quarter ended on Feb 28, as operating revenue declined 3 per cent year-on-year in the same period to $270.29 million. Recurring earnings.
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While we anticipate inorganic growth to stay largely muted within the local retail scene for 2H12, we see possibility of asset injection by MCT (Mapletree Business City) and FCT (Changi City Point) in 2013.. YTD, we note that the REITs unit prices have risen by 22.7% on average, as investors continue to accumulate them amid the positive outlook.. PetroChina: 1H12: Net Profit Below Expectations (U... Singapore Press Holdings: Bumper Final DPS Just Ro.
