Star Media subsidiary Cityneon to see rising profit margins, say analysts

Star Media Group owns 53% of Cityneon, which in turn wholly-owns VHE, the company that owns the licensing rights for both Avengers and Transformers brands in partnership with Marvel Entertainment and Hasbro.

PETALING JAYA: Singapore-listed Cityneon Holdings Ltd, a subsidiary of the Star Media Group Bhd, is poised to see rising profit margins driven by its cash-generating exhibition production and distribution unit, say analysts.

CIMB Research expected Cityneon’s topline growth for financial years 2016-2018 to come in between 10%-33%, and earnings per share to expand more rapidly at 35%-238% even after factoring in the company’s recent new share issuance of 20 million in FY16.