SINGAPORE (Feb 9): Global Yellow Pages (GYP), the real estate developer and digital search company formerly known as Yellow Pages Singapore, has reported 2Q18 earnings of $2.3 million, down by nearly half from $4.2 million a year ago on lower revenue.
Group revenue from continuing operations fell 40.3% to $6.4 million from $10.7 million in 2Q18, due mainly to reduced revenue contribution arising from the restructuring of GYP’s Search business and lower revenues by Supatreats Asia Pte Ltd (SAPL) Group.
Notably, total expenses fell 42.6% to $4.7 million because of the company’s restructuring of its Yellow Pages business announced on Aug 1 2017, which in turn led to lower staff costs as well as printing & material costs.
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