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Last Done 2.430
Change +0.060 (+2.53%)
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Related News

SPH growth strategy on track, even as Q2 profits slip

11 Apr 2019 09:00

By Michelle Quah

MEDIA group Singapore Press Holdings (SPH) said its growth strategy remains on track - even as it turned in lower profits for its second quarter - with positive momentum seen across all its business segments of media, property, digital and aged care.

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

The group's net profit was down 25.7 per cent at S$29.7 million for the three months ended Feb 28, 2019. For the first half of FY2019, net profit fell 14.7 per cent to S$85.6 million.

SPH said this was due mainly to the lack of investment gains, with its treasury and investment portfolio being divested the previous year - the proceeds of which are being recycled to its businesses to increase its recurring income over time.

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Attachments: Source: Business Times

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