International Business & Economy SPH's turnover for its newspaper and magazine business declined in Q3

SPH’s turnover for its newspaper and magazine business declined in Q3




- Advertisement -

Singapore Press Holdings’ (SPH) net profit for the three months to May 31 fell 46.4 per cent from the same period a year earlier to reach $52.7 million. For the nine months ended May 31, net profit was down 20.7 per cent to S$237.2 million. The publishing company blamed challenging conditions for its media business as the reason for its impairment.

SPH said that the turnover for its newspaper and magazine business declined 7.6 percent to S$239.5 million, mainly due to an 8.2 percent fall in advertisement revenue and 5.8 per cent decrease in circulation revenue.

The media giant had to write-off worthless goodwill of $28.4 million mainly related to the magazine business. SPH is the parent company of several print media like The Straits Times, Business Times and The New Paper.

Commenting on less than stellar performance, SPH’s chief executive officer Alan Chan said in a statement that the Government controlled media company has embarked on a “comprehensive review of its core media business”.

- Advertisement -

SPH’s press release is here: us on Social Media

Send in your scoops to 

- Advertisement -

Local nurse says it is ‘sad, really sad to know’ that frontliners like himself are being blamed for the current Covid-19 outbreak

Singapore -- A local nurse took to social media with a heartbreaking tweet about frontline healthcare workers like himself being blamed for Covid-19 now after being cheered as heroes when the pandemic began last year. In a tweet which has since been...

Netizens upset with ST’s piece on people’s behaviour and Covid measures

Singapore—An article entitled “Behaviour of people holds key to success of Singapore's tighter Covid-19 measures” written by the Senior Heath Correspondent of The Straits Times has been met with unhappy reactions from netizens.   Ms Salma Khalik, whose piece was published on...

‘Stop the double standards,’ says PAB rider after seeing LTA officers let off an errant rider

Singapore – “PAB (power-assisted bicycle) rider doing food delivery? You’d better just dress like you look like an Aunty because LTA (Land Transport Authority) will not issue you a ticket,” said a member of the public after witnessing the authorities let...
Follow us on Social Media

Send in your scoops to