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SPH earnings fall 45% to $28.9 mil in 3Q

Jude Chan
Jude Chan7/14/2017 06:57 PM GMT+08  • 2 min read
SPH earnings fall 45% to $28.9 mil in 3Q
SINGAPORE (July 14): Singapore Press Holdings (SPH) posts earnings of $28.9 million for the third quarter ended May, falling 45.2% from earnings of $52.7 million a year ago.
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SINGAPORE (July 14): Singapore Press Holdings (SPH) posts earnings of $28.9 million for the third quarter ended May, falling 45.2% from earnings of $52.7 million a year ago.

This was partially due to a $9.4 million increase in impairment charges to $37.8 million on goodwill and intangibles, primarily related to the magazine business. The group recognised impairment charges of $28.4 million a year ago.

In a filing to SGX on Friday, SPH says its magazine business’ performance has continued to deteriorate further amid unfavourable market conditions.

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