Media Prima reported net profit of RM44.2 mil for the quarter ended 30 September 2015.

All major divisions' performance are stable and satisfactory :-

(a) FTA TV division's PAT of RM30.1 mil is more or less the same as previous quarter.

(b) Radio division reported PAT of RM11.9 mil, a 70% increase compared to previous quarter.

(c) Outdoor media (Big Tree) reported PAT of RM9.8 mil, a 32% increase compared to previous quarter.

(d) New Strait Times reported PAT of RM8.9 mil, a drop of 31% compared to previous quarter (but 110% higher y-o-y). For me, the result is still acceptable. NST has always been an underperformer. As long as it doesn't pose a significant drag to the group, I have nothing much to complain.

Overall, the group's performance meets my expectation. This latest quarter's EBIT margin improved to 17.9%, compared to previous quarter's 15.9%.

Based on market cap of RM1.53 billion and estimated net profit of RM151 mil, prospective PER is approximately 10 times.

Contrary to perception that the group is in a sunset industry, I continue to base my assessment on the financial figures which painted a totally different picture.

I maintain my view that the Media Prima Group still has a decent future. It will snap back with a vengence when economy recovers and consumers' sentiment improve.

In the meantime, I will get to enjoy the 2 sen dividend that will go ex on 8 December 2015. So far this year, the company has declared 5 sen dividend, with another 5 sen expected to be declared in the coming December quarter.

Based on share price of RM1.38, dividend yield is 7.25%.

What more can I ask for ?