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Serious SPH Q3 Profit Down 45% Due To Fake News Competition! Ng YC, Please Save SPH!

Discussion in 'The Courtyard Café' started by JohnTan, Jul 16, 2017.

  1. JohnTan

    JohnTan Alfrescian (InfP) Old Timer

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    [​IMG]

    MEDIA and property group Singapore Press Holdings (SPH) on Friday reported a net profit of S$28.9 million for its third quarter ended May 31, 2017, down 45 per cent from S$52.7 million a year ago.

    Operating revenue was down 10.8 per cent to S$260 million, due to a 15.7 per cent revenue decline in its core media business to S$182.5 million.

    Results were affected by impairment charges of S$37.8 million, primarily due to the magazine business whose performance continued to deteriorate further amid unfavourable market conditions.

    Alan Chan, SPH chief executive officer, said the group will forge ahead with its drive to transform its core media business.



    "We have pursued other growth opportunities to diversify revenue streams. To date, we have made steady progress with the recent acquisition of Orange Valley Healthcare and our joint venture winning the tender to develop a mixed commercial and residential site at Bidadari," he said.


    SPH, which owns The Business Times, closed at S$3.11, up six cents, before results were out.

    http://www.businesstimes.com.sg/companies-markets/sph-q3-profit-at-s289m-down-45
     
  2. JHolmesJr

    JHolmesJr Alfrescian Old Timer

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    such sweet music….play on
     
  3. johnny333

    johnny333 Alfrescian (Inf)

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    If profits in state owned companies fall the "lesser mortals" are going to end up paying more $. It could be increases in GST, water prices, power, coe, ERP, ... etc

    PAP gov't needs $$$ to prop up all their state owned companies. Don't forget that they have to provide jobs to the faith full.
    There are also still people who read & they have to be brain washed especially every 4 years.
     
  4. JohnTan

    JohnTan Alfrescian (InfP) Old Timer

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    Alternative news and fake news from the oppies have hurt SPH's profitability. I hope that when Ng Yat Chung becomes CEO from september onwards, he will make SPH great again.

    [​IMG]
     
  5. JiaLiaoBi

    JiaLiaoBi Alfrescian Old Timer

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    He don't sell away enough already.You still expect it to be great again.
     
  6. tanwahtiu

    tanwahtiu Alfrescian Old Timer

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    Lets help Sph increase their np sales.

    Tgey shd include a few new pages for dog poo poo purpose.

    Many buy np for that purpose.
     
  7. JohnTan

    JohnTan Alfrescian (InfP) Old Timer

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    I don't care what you use sph newspapers for as long as you buy it.
     

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