Advertising revenues tumble at Singapore Press Holdings as media profit almost halves

SPHSingapore Press Holdings saw advertising revenue tumble 13.5%, or $S22.7m, in the first quarter of the 2017 financial year, while profit before tax in its media division almost halved.

The publisher said ad spending remained soft, with declines across the board.

Newspaper and display ad sales fell 15% and 16% respectively while classifieds slid 12.5%.

Circulation revenue climbed 1.8%, or $0.7m, and was “sustained by digital”, the media firm said.

Total revenue in SPH’s media division fell 9.5% to S$202m while pre-tax profit declined 47% to S$33m.

SPH said the revenue declines were partly offset by lower production and staff costs.

Its property division fared better with revenue rising 1.3% to S$60.4m with pre-tax profit climbing 4.4% to S$39m.

Overall profit after tax tumbled almost 39% to S$55.8m.


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