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SPH full-year earnings up 32% to $350.1 mil on one-off gains; revenue down 8.2%

Stanislaus Jude Chan
Stanislaus Jude Chan10/11/2017 06:34 PM GMT+08  • 2 min read
SPH full-year earnings up 32% to $350.1 mil on one-off gains; revenue down 8.2%
SINGAPORE (Oct 11): Singapore Press Holdings (SPH) reported earnings of $350.1 million for the FY17 ended August, an improvement of 32% from $265.3 million a year ago.
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SINGAPORE (Oct 11): Singapore Press Holdings (SPH) reported earnings of $350.1 million for the FY17 ended August, an improvement of 32% from $265.3 million a year ago.

However, this was mainly due to a one-off gain of $149.7 million from the partial divestment of its stake in a joint venture regional online classifieds business, as well as a fair value gain of $57.4 million on its investment properties.

These gains were partially offset by charges of $96 million, which included impairment of the magazine business amid unfavourable market conditions, writedown of printing presses due to consolidation of printing capacity, and write-down of investments in associates to realisable value.

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