KLCI Index (12-month)
Research Team research@affinhwang.com
Chue Kwok Yan Head of Research | RESEARCH +603 2146 7618 kwokyan.chue@affinhwang.com
Alan Tan Chief Economist | RESEARCH +603 2146 7540 alan.tan@affinhwang.com
| Top Calls | | Results Note � Media Prima (SELL)
- Challenges in traditional media remains
Media Prima (MPR) reported a 1H17 core net loss of RM28.4m, below our forecasts. The variance was mainly due to lower-than-expected contribution from the TV network and print media divisions. The traditional media platforms saw weak adex and faced a shift to digital media. Given the disappointing 1H17 results, we cut our FY17-19 EPS forecasts by 26-49%. We maintain our SELL call with a lower TP of RM0.62. |
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