SPH profits up 32.1% to $60.4m in Q1
Thanks to an almost 50% revenue jump in aged care business.
Singapore Press Holdings' (SPH) profits rose 32.1% YoY from $45.73m to $60.4m in the first quarter of 2018.
According to their financial statement, revenue for the media business declined 13.9% YoY to $173.9m as advertisement and circulation revenue fell by $24.2m and $3.1m, respectively.
Meanwhile, revenue for the property segment slightly rose by 1.2% YoY to $61.2m thanks to higher rental income from retail assets. Contributions from SPH's aged care business also jumped 48.2% YoY to $23.6m.
Investment income of $12.4m comprised mainly of gains on disposal of investments and dividend income.
SPH gained $5.9m from the dilution of interest on an associate’s IPO listing and raised other operating income by $5m.
"The group will roll out new products to deal with the disruption in the core media business, and continue to pursue other growth opportunities to diversify revenue streams," SPH said.
Read Here
Advertise
Sign Up
