MYNEWS HOLDINGS BERHAD
KLSE (MYR): MYNEWS (5275)
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Last Price
0.69
Today's Change
0.00 (0.00%)
Day's Change
0.68 - 0.69
Trading Volume
424,300
Analysis
Price Target
A price target is an analyst's projection of a share's future price.
Average Target Price, Price Call and Upside/Downside here are derived from Price Targets in the past 6 months.
Last Price
0.69
Avg Target Price
0.73
Upside/Downside
+0.04 (5.80%)Price Call
0
SELL
1
HOLD
12
BUY
| Date | Open Price | Target Price | Upside/Downside | Price Call | Firm | View | Action |
|---|
Discussions
1 person likes this. Showing 50 of 1,891 comments
KUALA LUMPUR: The outlook for MyNews Holdings Bhd appears promising, according to RHB Research.
The change in strategy to consolidate the management teams of MyNews and CU stores has led to promising sales and margin improvement, the firm added.
"Moving ahead, the robust expansion of the MyNews brand, coupled with the reduction of losses at CU and anticipated breakeven of the food processing centre (FPC) are poised to sustain the group's turnaround," it said in a note.
RHB Research added that MyNews had achieved RM24 million-RM29 million profit pre-pandemic, but the introduction of CU in 2021 resulted in continuous losses throughout its gestation period.
Over the three years, the convenience store operator had learned from its mistakes and adapted a new strategy.
It consolidated the management teams of CU and MyNews to leverage the latter's local expertise in running an international brand.
"This resulted in GPM improvement given the more synergistic benefits and cost savings due larger combined scale, while also contributing to stronger sales through better product assortment.
"We highlight CU's closest peer, FamilyMart, took three years to breakeven.
"With the financial year 2024 (FY24) marking the third year since CU's introduction, excluding the pandemic year, it is poised to break even," it noted.
RHB Research expects profit to return to pre-pandemic levels in FY25 for MyNews, with CU breaking even by the end of 2024.
The firm kept a "Buy" call on the company with a target price of 68 sen.
RHB Research said MyNews has been continuously gaining market share, with sales growing despite the overall decline in the convenience store sector, as cited by Nielsen.
This is attributed to its continuous fine tuning of product offerings and the introduction of more quality fresh food items after securing sufficient labour for FPC, which has led to better consumer traction.
"Management guided to aggressively expand this profitable brand to further offset narrowing losses from other business units given its track record of resilient performance.
"We believe this will be further aided by a new shareholder providing valuable insight and suggestions to the business.
"Mynews also plans to introduce new Maru Coffee Café, leveraging on the popularity of its coffee and fresh food products," it noted.
RHB Research also highlighted that FPC's losses narrowed to RM0.2 million in the first quarter (1Q) of FY24, smallest losses since its establishment in 2019.
This was due to stabilised input costs, and management being able to negotiate better terms with suppliers due to stronger sales volume.
"We anticipate FPC utilisation will continue to ramp up in line with store expansion and higher in-store sales.
"On the other hand, WH Smith's earnings are currently at approximately 70 per cent of pre-pandemic level as it was impacted by some airport renovation, but we expect it to recover post renovation and increasing tourist arrivals," it noted.
Moving forward, the firm said key risks for MyNews include delays in CU's turnaround and weaker-than-expected consumer sentiment.
2024-03-29 12:58
Maybank Investment Bank (Maybank IB) Research has maintained a “buy” call with an unchanged TP of 62 sen for MyNews.
“With its CU stores and food processing centre reaching break-even levels, positive group earnings growth will become more sustainable, while growing average sales per store also signals an improved consumer appeal towards Mynews stores,” it said.
2024-03-29 13:05
On steadier footing in FY24E
We are encouraged that sales for both Mynews and CU stores have improved, alongside narrowing losses for the group’s FPC and CU operations. With this, MNHB can fully focus on growing its group-wide fresh food sales contribution to lift group margins in a sustainable manner. Our earnings estimates are unchanged. Maintain BUY with an unchanged TP of MYR0.62, based on 1.7x FY24E PBV
2024-03-29 14:00
FYE Oct (MYR m) FY22A FY23A FY24E FY25E FY26E
Revenue 631 730 795 902 1,014
EBITDA 56 82 80 72 55
Core net profit (20) (11) 5 8 12
Core EPS (sen) (2.9) (1.7) 0.7 1.2 1.8
Core EPS growth (%) nm nm nm 65.8 56.5
2024-03-29 14:47
According to Nielsen, Mynews has been continuously gaining market share, with sales growing despite the overall decline in the convenience store sector.
2024-03-29 17:25
UP 1/2 sen today... it should rise in stages till Q4 at year-end. buy n hold.
2024-03-29 21:20
quarterly results should continue to rise , and the share price will rise in tandem with it. cheers
2024-03-29 21:21
Super cheap compared to 7-11.
@goldmanbull
A counter that has been overlooked by market for too long already....
16 hours ago
2024-04-02 08:37
Strongly believe it would rebound in stage. The worse is over. Now on the profitable path again, on the way up again
2024-04-02 08:38
Margin very thin....Sarawak and Sabah no hope. also too many local convience store which mainly for online ?????gamb...
2024-04-13 22:31
Too undervalued. Matter of time before Mynews roar back like its old name Bison Consolidated...
2024-04-24 16:30
mynews biggest drag is the CU store. The store open have lack of trafice and do not know how long will drag on.
2024-05-22 11:46
Hafid, you invested in Mynews? You are absolutely right about CU being a drag to Mynews. But let me ask you a question, if CU was doing well, do you think you can buy Mynews at this price? I think it will be RM1 easily. Hence, if you buy at RM1 you will make some money but not much.
2024-05-23 11:49
Min wages to increase to 2,000
Electricity costs to increase
Petrol and diesel subsidies going to reduce or remove to increase logistical costs.
Operation costs going to increase due to ESG rubbish
Administration and taxation costs going to increase due to E-invoices
Competition from China competitors entering Malaysia market.
2024-06-01 12:56
After few month.. mynews doing well, share price also doing well.
Slap face to Those look down on mynews.
Wakakaka
2024-06-16 13:49
Hahaha. Sure need to syiok sendiri… so what min wage? First time meh..
All company have to deal with it.
2024-06-21 18:48
^ close down some shops, planning to open more at the east coast and collab with Korean brand CU, something like that. Not really a bad news to me.
2024-07-30 15:12
Time
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04:43:29
2024-09-25 16:44
Biden’s green light for Ukraine to use ATACMS in Russia just raised the stakes in a war Trump will inherit
1 month ago
Mynews is eyeing to continue the upside movement after strong volume has emerged. The counter printed a long white candlestick and closed above the MYR0.68 resistance, signalling bullish momentum is picking up pace. The bullish momentum may lift the stock towards MYR0.71,followed by the higher resistance at MYR0.76 level. On the downside, breaching below the MYR0.635 support will kickstart the correction.
1 week ago
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Cash equivalents~ rm43mil, retained earnings rm32mil... dividend terjamin hehe
2024-03-29 12:49