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SPH Q1 net profit down 43.8%

SPH Q1 net profit down 43.8%

SINGAPORE: Media company Singapore Press Holdings (SPH) reported a 43.8 per cent slide in first quarter net profit, which came in at $45.7 million.

Group operating revenue for the three months ended Nov 30, 2016 fell by 6 per cent over the same period a year ago to $278.3 million.

SPH said the slowing economy and ongoing disruption of the media industry continued to weigh on the media business, which saw a 9.5 per cent drop in revenue, largely due to a 13.5 per cent fall in advertisement revenue.