Stock Name: MEDIA
Company Name: MEDIA PRIMA BHD
Research House: OSK
OSK Research and ECM Libra have maintained a "buy" call on Media Prima Bhd following the company's better than expected nine-month financial performance.
"The company registered a core net profit of RM110 million for its nine-month financial period, which was above our expectation and accounted for 83 per cent of our net profit forecast for financial year 2010," said OSK Research in a research note today.
"Without consolidating the revenue from NSTP and Kurnia Outdoor, Media Prima reported a 22 per cent year-on-year increase in revenue supported by revenue growth from all of its other media platforms such as television, radio and outdoor media," it said.
OSK Research has revised the company's financial year 2010 and 2011 earnings forecast by 18 per cent and 12.9 per cent respectively, with a higher target price of RM3.30.
Meanwhile, ECM Libra mentioned in a research note, that Media Prima had revised its dividend policy and going forward, paying twice a year.
"Assuming a 75 per cent net dividend payout ratio (DPR), investors can expect another six sen net dividend per share (DPS) or three per cent dividend yield at year. -- Bernama
Company Name: MEDIA PRIMA BHD
Research House: OSK
OSK Research and ECM Libra have maintained a "buy" call on Media Prima Bhd following the company's better than expected nine-month financial performance.
"The company registered a core net profit of RM110 million for its nine-month financial period, which was above our expectation and accounted for 83 per cent of our net profit forecast for financial year 2010," said OSK Research in a research note today.
"Without consolidating the revenue from NSTP and Kurnia Outdoor, Media Prima reported a 22 per cent year-on-year increase in revenue supported by revenue growth from all of its other media platforms such as television, radio and outdoor media," it said.
OSK Research has revised the company's financial year 2010 and 2011 earnings forecast by 18 per cent and 12.9 per cent respectively, with a higher target price of RM3.30.
Meanwhile, ECM Libra mentioned in a research note, that Media Prima had revised its dividend policy and going forward, paying twice a year.
"Assuming a 75 per cent net dividend payout ratio (DPR), investors can expect another six sen net dividend per share (DPS) or three per cent dividend yield at year. -- Bernama
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