Bursa Malaysia Stock Watch

Star Publications (Hold): Uneventful 3Q11

kltrader
Publish date: Thu, 24 Nov 2011, 04:31 PM
kltrader
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Stable outlook. Star recorded 9M11 results that were largely within expectations. 4Q11 net profit is likely to be flattish YoY at c.RM50m - although average newsprint prices have appreciated to < USD700/MT, adex revenue is still growing YoY, albeit, at mid single digits in percentage terms. In the mean time, dividend yields of 6% should help support its share price. Maintain Hold call and DCF-based RM3.37 TP.


Maybank research (24 November 2011)

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