Published:
Where have the ads in SPH gone… again?
Print advertisement revenues dropped 1.2%, with both display and classified ads down.
OCBC Investment Research noted:
As anticipated, we saw 1QFY12 revenues from print advertisement fell 1.2% YoY, driven by declines in both display and classified ads.
Display ads demand from the fast moving consumer goods and banking/finance segments fell relative to 1QFY11, while demand increased from the property and fashion segment.
There were also pressure from operating costs; newsprint and staff costs increased 4.2% and 1.5%, respectively. Circulation revenues fell marginally, down 1.8%.
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