♦ 1H net profit grew 71.9% yoy, beating expectations. Star’s 2QFY10 net profit of RM50.1m (+52.4% yoy, +32.4% qoq) was slightly above our and consensus expectations with 1HFY10 net profit of RM87.9m (+71.9% yoy) accounting for 53% and 52% of our and consensus full-year estimates respectively. We believe the key variance stemmed from stronger-than-expected ad revenue in 1HFY10.
Star Publications (M) Bhd : Stronger-than-expected Ad Revenue - 18/08/2010
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