Shares of Star Publications wilt on weaker Q3 earnings report
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Kuala Lumpur
THE shares of Star Publications declined 1.3 per cent on Thursday to RM2.27 (87 Singapore cents), following the Malaysian newspaper publisher's report of weaker third-quarter earnings for its 2014 financial year, which closes at end- December.
Star's reported earnings of RM34 million for its third quarter brought its nine-month earnings to RM90 million, 68 per cent of the full-year consensus forecasts. Even so, that included a one-off RM11.1 million expense for layoff benefits.
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