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News - Detailed News Story

SPH

Stock Chart
Last Done 2.060
Change +0.020 (+0.98%)
Volume 1,745.6
Range 2.040 - 2.060

SPH growth on track despite lower Q2 profit

11 Apr 2019 09:00

Revenue from SPH's digital media segment grew steadily for the six months ended Feb 28. Newspaper digital ad revenue increased 15.1 per cent year on year, while total digital revenue - including other portals and online classifieds - was up 13.1 per cent. ST PHOTO: DESMOND FOO

By Michelle Quah

Media giant Singapore Press Holdings (SPH) reported positive momentum across all its business segments - media, property, digital and aged care - even as it turned in a smaller profit for the second quarter.

SPH chief executive Ng Yat Chung said at a results briefing yesterday that the group's strategy of growing its non-media businesses, along with its digital revenues - to make up for a decline in print revenues - remains "on track".

The group's net profit attributable to shareholders was down 25.7 per cent to $29.7 million for the three months ended Feb 28, compared with $39.9 million the year before.

For the six months ended Feb 28, net profit attributable to shareholders was down 14.7 per cent to $85.6 million.


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Source: Straits Times
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