MyNews could face margins pressure from new outlets

KUALA LUMPUR: While poised to benefit from further reopening of the economy, MyNews Holdings Bhd's margins could be under pressure in the coming quarters due to higher depreciation and marketing expenses at its new outlets.

In a report, Kenanga Research noted that the group's 1QFY22 net loss of RM8.8il disappointed expectations as the higher opex weighed on the bottomline despite the higher revenue on the opening of new stores and higher footfall.