| Abstract | Stockbrokers Crosby Securities believe the Eastern Express can be turned around. Analyst Edward Ng reckons the paper will lose $69 million in fiscal 1995, which is about what it cost its owners Oriental Press last year. The brokers also underline what they call the "cosy cartel" in the Hongkong newspaper industry. Demand is price inelastic, they say, so the newspaper companies can easily pass cost increases through to the consumer by regular price increases which, not surprisingly, they tend to do all at the same time. |
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