Global Yellow Pages, the publisher of telephone directories and provider of classified directory advertising reported group revenue for the nine months ended Dec 31 2009 (9MFY2010) of $31.2 million, a decrease of $25.2 million compared to the corresponding period last year due to the revised publication dates for the Singapore Phone Directories Consumer and Chinese editions and also the impact of the economic recession.

Net profit after tax was $9.4 million, a decrease of $9.7 million compared to 9M FY2009.

Global Yellow Pages says the group has in the current year embarked on levelling production throughout the course of the year, through scheduling the publication of its directories more evenly over the year so as to improve operational efficiencies. For the current year, revenue from the Business edition of the phone directories has been recognised in 2Q FY2010 while the Consumer and Chinese editions will be recognised in 4Q FY2010.

Last year, the Consumer and Chinese editions were recognised in 3Q FY2009. As a result of the above, revenue for 9M FY2010 was lower by $25.2 million as compared to 9M FY2009. Revenue has also been impacted by the economic recession, with a decrease in revenue in the Business edition, as previously announced in 2Q FY2010.

Total expenses were lower than the corresponding period last year by $14.6 million as the costs of the Consumer and Chinese editions will only be recognised in 4Q FY2010 whilst these costs for the previous year’s editions were taken up in 3Q FY 2009 and as a result of cost management.

The group achieved $13.5 million for its sales canvass of the Consumer and Chinese editions in 3Q FY2010. The revenue will be recognised in 4Q FY2010 when the circulation is completed. The total sales canvass for the full directories is expected to be $37.4 million as compared to $48.5 million for the previous year’s editions, a drop of 23%. The sales canvass results was substantially achieved during 2009 when the advertising market had been impacted by the recession.

Whilst advertising revenue continues to be challenged, the group says it has taken measures to expand revenue channels and manage costs in order to continue to be profitable.

Barring any unforeseen circumstance, the board expects the full year profit to be reasonably comparable to the previous financial year.