This is the reason behind Singapore Press Holdings' nasty ad trend

RELATED QUOTES

SymbolPriceChange
T39.SI3.46-0.04

Blame the measly -0.5% growth on dipping newspaper page count.

According to Nomura, SPH’s August newspaper weekly page count was down 4.6% y-y, based on our monthly average, an indication that display advertising was weaker last month.

Here's more from Nomura:

In fact, based on our page count, display advertising is flat for 4QFY12 for the newspaper group, an indication that the segment has only just held up for the whole of SPH’s financial year.

Given that display advertising is the only newspaper advertising segment which has held up relatively well in the previous two quarters, we believe this is likely to show that FY12F newspaper advertising should remain on a declining trend in 4QFY12F.

In 3QFY12, SPH's core newspaper and magazine division saw a 4% y-y decline in pre-tax profit to SGD92mn. While this was sequentially higher (+9.5% y-y) than the SGD84mn achieved in the seasonally weaker 2Q12, for the 9M12 period, newspaper/magazine net profit is down 6% y-y to SGD263mn.

In 3QFY12, revenue from the core newspaper and magazine business segment was flat at SGD261mn, with print advertising holding at SGD201.8mn (+0.4% y-y) and display ads revenue increasing 2.9% y-y, while classifieds fell a sharp 9% y-y.

Circulation revenue also declined 3.6% y-y to SGD51.8mn on fewer copies of the group’s newspapers sold during the three-month period.

Given the weak 4QFY12 display advertising performance as seen from our August page count, we have cut our newspaper advertising growth estimate to -0.5% from the mild 2% growth in our earlier assumption.

Display advertisements accounted for 61% of the group’s total print advertisement revenue of SGD583mn in 3QFY12, while classifieds accounted for 28% and magazines\others for 11%.



More From Singapore Business Review

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • German air force inspecting 10 A400M engines on EASA orders - Die Welt Reuters - 1 hour 27 minutes ago

    BERLIN (Reuters) - The German air force is inspecting 10 engines from Airbus A400M military transport planes under orders from European safety officials after cracks were discovered in the combustion chamber ... … More »

  • J.C. Penney to close 13 to 14 percent of stores Associated Press - 1 hour 29 minutes ago

    J.C. Penney said Friday that it will be closing anywhere from 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of online ... … More »

  • PharMerica beats 4Q profit forecasts Associated Press - 1 hour 32 minutes ago

    The Louisville, Kentucky-based company said it had net income of 25 cents per share. Earnings, adjusted for one-time gains and costs, came to 58 cents per share. The results beat Wall Street expectations. ... … More »

  • BRIEF-Tdm says Jan fresh fruits bunches production 33,144.23 MT Reuters - 1 hour 34 minutes ago

    Feb 24 (Reuters) - Tdm Bhd * Jan fresh fruits bunches production 33,144.23 mt, crude palm oil production 5,849.54 mt, palm kernel production 1,597.45 mt Source ( http://bit.ly/2lzDSOU ) Further company ... … More »

  • Ellen, Wal-Mart give scholarships to school's senior class
    Ellen, Wal-Mart give scholarships to school's senior class Associated Press - 1 hour 36 minutes ago

    Ellen DeGeneres has handed out college scholarships to the entire senior class of a New York City charter school. DeGeneres surprised the 41 students from Brooklyn's Summit Academy this week at her California ... … More »

  • China, France overtake US as top German trade partners
    China, France overtake US as top German trade partners Associated Press - 1 hour 41 minutes ago

    New statistics show that China and France have overtaken the U.S. as Germany's largest trading partners. Germany's Federal Statistical Office reported Friday that trade between the country and China in ... … More »

  • Bitcoin is hovering near all-time highs
    Bitcoin is hovering near all-time highs Business Insider - 1 hour 45 minutes ago

    Reuters/Bobby Yip Bitcoin on Friday pulled back slightly … Continued The post Bitcoin is hovering near all-time highs appeared first on Business Insider. … More »

  • Gold hits 3-1/2-month high as 'Trumpflation trade' fades
    Gold hits 3-1/2-month high as 'Trumpflation trade' fades Reuters - 1 hour 46 minutes ago

    Gold hit its highest in about 3-1/2 months on Friday as the dollar headed for its first week of decline in three after the new U.S. finance chief poured cold water on the "Trumpflation trade" that had boosted the greenback this year. Treasury … More »

  • Telkom Said to Mull Purchase of Cell C Debt in Ownership Bid (1) Bloomberg - 1 hour 46 minutes ago

    Cell C creditors approached Telkom to help reorganize debt that includes 640 million euros ($677 million) of bonds maturing in July 2018, said the people, who asked not to be identified because discussions are private. Telkom, whose attempts to … More »

  • BASF's fourth-quarter operating profit boosted by higher petrochemical prices Reuters - 1 hour 48 minutes ago

    Germany's BASF (BASFn.DE), the world's largest chemicals group by sales, forecast a rebound in earnings this year after higher petrochemical prices boosted profits in the final three months of 2016. The company, whose products include catalytic … More »

  • Bundesbank official warns London banks against post-Brexit tricks
    Bundesbank official warns London banks against post-Brexit tricks Reuters - 1 hour 52 minutes ago

    UK-based banks that want to operate across the European Union after Brexit must set up genuine operations, not 'empty shells' in EU countries, a Bundesbank official said on Friday. Andreas Dombret, the Bundesbank board member responsible for … More »

  • J.C. Penney to Shut as Many as 140 Stores as Industry Slumps (1) Bloomberg - 1 hour 53 minutes ago

    The closings represent as much as 14 percent of the company’s store base and less than 5 percent of total sales, J.C. Penney said Friday. J.C. Penney’s plan echoes rival Macy’s Inc.’s announcement last year that it would shut about 100 of its … More »

  • Standard Chartered shares fall as it withholds dividend but lifts bonuses Reuters - 1 hour 54 minutes ago

    LONDON/HONG KONG (Reuters) - Standard Chartered (STAN.L) shares fell as much as 5 percent on Friday as the British bank said it would not pay a dividend for 2016 due to restructuring costs, but increased its staff bonus pool by 5 percent. The bonus … More »

  • BRIEF-Borneo Oil bhd updates on January production Reuters - 1 hour 58 minutes ago

    Feb 24 (Reuters) - Borneo Oil Bhd: * Jan ores mined 48,936.80 mt , Jan production of gold dore 72.54 oz Source text: Further company coverage: … More »

  • PSEG reports 4Q loss Associated Press - 1 hour 58 minutes ago

    On a per-share basis, the Newark, New Jersey-based company said it had a loss of 19 cents. Earnings, adjusted for non-recurring costs, came to 54 cents per share. The results surpassed Wall Street expectations. ... … More »

  • Harsco reports 4Q loss Associated Press - 2 hours 4 minutes ago

    On a per-share basis, the Camp Hill, Pennsylvania-based company said it had a loss of 19 cents. Earnings, adjusted for one-time gains and costs, came to 16 cents per share. The industrial services company ... … More »

  • E.W. Scripps beats Street 4Q forecasts Associated Press - 2 hours 4 minutes ago

    The Cincinnati-based company said it had profit of 46 cents per share. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for ... … More »

  • Exit by Polish Top Brass Guts Command on NATO Front Line (2) Bloomberg - 2 hours 4 minutes ago

    With the government moving to rid institutions of officials appointed by the former ruling Civic Platform party, which it defeated in 2015 elections, 90 percent of the General Staff leadership and more than 80 percent of the army’s top brass have … More »

  • Portugal could exit excessive deficit in spring - EU's Dombrovskis Reuters - 2 hours 10 minutes ago

    Portugal is set to exit the EU excessive deficit procedure if the European Commission confirms its latest forecasts for this year and next in a new assessment in the spring, a top EU official said on Friday. Lisbon says it cut the budget deficit … More »

  • EHealth reports 4Q loss Associated Press - 2 hours 14 minutes ago

    On a per-share basis, the Mountain View, California-based company said it had a loss of 91 cents. Losses, adjusted for stock option expense and amortization costs, came to 79 cents per share. The results ... … More »

  • China overtakes US as Germany's top trade partner AFP - 2 hours 16 minutes ago

    China overtook the United States last year to become Germany's biggest trading partner for the first time, official data showed, a shift likely to reassure Berlin as worries grow over US President Donald ... … More »

  • Calgon reports 4Q loss Associated Press - 2 hours 28 minutes ago

    On a per-share basis, the Moon Township, Pennsylvania-based company said it had a loss of 12 cents. Earnings, adjusted for non-recurring costs, were 5 cents per share. The results fell short of Wall Street ... … More »

  • Global stocks fall amid Trump trade policy concerns
    Global stocks fall amid Trump trade policy concerns Associated Press - 2 hours 29 minutes ago

    Global stocks fell Friday amid worries about the potential impact of U.S. trade policies and as investors became more cautious about the market's recent rally. KEEPING SCORE: France's CAC 40 slumped 1.4 ... … More »

  • Will the legend of Nokia 3310 see its comeback?
    Will the legend of Nokia 3310 see its comeback? International Business Times - 2 hours 30 minutes ago

    Nokia 3310 is truly a legendary phone that deserves a revival from HMD Global. … More »

  • IStar reports 4Q loss Associated Press - 2 hours 30 minutes ago

    On a per-share basis, the New York-based company said it had a loss of 27 cents. Earnings, adjusted for one-time gains and costs, were 4 cents per share. The commercial real estate finance company posted ... … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.225-0.045-16.67%
    N21.SI
    0.135+0.004+3.05%
    41F.SI
    0.191-0.007-3.54%
    40F.SI
    0.180.00-2.70%
    40E.SI
    0.1060.0000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.60+0.28+87.50%
    AWC.SI
    0.48+0.17+54.84%
    BCD.SI
    0.35+0.08+29.63%
    BQO.SI
    0.515+0.065+14.44%
    T55.SI
    0.155+0.019+13.97%
    BKZ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.225-0.045-16.67%
    N21.SI
    0.215-0.040-15.69%
    AWI.SI
    0.138-0.017-10.97%
    1C0.SI
    0.11-0.01-9.84%
    BRR.SI
    0.575-0.055-8.73%
    600.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4047-0.0028-0.20%
    USDSGD=X
    1.4855-0.0034-0.23%
    EURSGD=X
    1.7581-0.0084-0.48%
    GBPSGD=X
    79.9840-0.078-0.10%
    SGDJPY=X
    5.5239+0.0131+0.24%
    SGDHKD=X
    3.1593-0.0033-0.10%
    SGDMYR=X
    9,486.1621-38.1729-0.40%
    SGDIDR=X
    4.8855+0.0077+0.16%
    SGDCNY=X
    1.0778-0.0077-0.71%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,254.10+2.70+0.22%
    GCJ17.CMX
    18.25+0.14+0.76%
    SIH17.CMX
    90.25+0.65+0.72%
    ^XAU
    2.67+0.01+0.24%
    HGK17.CMX
    53.99-0.46-0.84%
    CLJ17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.83-0.05
    ^FVX
    2.35-0.04
    ^TNX
    2.99-0.04
    ^TYX