Chitchat SPH Profits Fall By 19.7%! Not Enough Sinkies Subscribe To ST Premium News Or Use SPH's Old Folks' Home!

[JohnTan]

Singapore Press Holdings (SPH) on Monday (15 October) reported a 19.7 per cent fall in net profit for financial year 2018 as the company’s core media business continued to come under pressure.

Net profit for the period ended 31 August 2018 declined $69 million to $281.1 million due partly to a one-off gain on divestment of a joint venture recorded in FY 2017. Excluding one-offs, net profit rose 2.4 per cent.

The group posted a 4.8 per cent drop in overall revenue to $982.6 million.

Revenue for the media business fell 9.6 per cent to $655.8 million as SPH posted lower revenue in display, classified and newspaper advertisements.

The decline in the media business was cushioned by lower staff costs, newsprint costs and depreciation charges. Pre-tax profit in the segment fell 18.9 per cent to $92.8 million.

Revenue for the property business was flat at $242.4 million while pre-tax profit in the segment declined 6.9 per cent to $151.8 million.

The revenue decline in the media and property segments was offset by growth in the others segment. Revenue in the segment – comprising the digital portfolio and the aged care businesses – grew 34 per cent to $84.4 million.

Headcount at SPH as at end-August fell 6.2 per cent to 4137 staff.

Ng Yat Chung, CEO of SPH, said, “Print continues to experience headwinds, but we are seeing encouraging results from our efforts to digitise the core media business. We are making good progress in growing our property, digital portfolio and aged care businesses, including our recently acquired assets in the purpose-built student accommodation sector.”

https://sg.news.yahoo.com/sph-net-profit-19-7-fy2018-media-business-revenue-fell-131333761.html

 

[winnipegjets]

This entitled CEO - lookalike of North Korea's Kim - has no clue how to grow his monopoly.

 

[Confuseous]

They must be the only monopolistic newspaper in the world which cannot increase circulation when imported populuation rises by 50%, fully supported by the gahmen and still cannot make money. And then try to put a spin on how revenue/profits would have improved without the previous year's one-off divestment.

Major cost cuttings arose from staff reductions and lower newsprint and printing ink costs arising from printing reduced number of pages.

 

[shittypore]

Its time they get in the yellow robe monks to blessed their building and hve a name change, 'The Clueless Time'.

 

[AhMeng]

When you have a bad reputation being a mouthpiece for the PAP government, you can only retained eunuchs to work for you while externally you lose credibility and hence no one wants to buy your news products when they can read free propaganda on the net. Lol

 

[aerobwala]

News print, digital media, property, age care business,..is like another NTUC, sml also do, sent this Ah Pui as if another Superman can fix anythings and expect him to bring value to shareholders?

 

[halsey02]

They must be the only monopolistic newspaper in the world which cannot increase circulation when imported populuation rises by 50%, fully supported by the gahmen and still cannot make money. And then try to put a spin on how revenue/profits would have improved without the previous year's one-off divestment.

Major cost cuttings arose from staff reductions and lower newsprint and printing ink costs arising from printing reduced number of pages.

They didn't move with the times to think & expand!. With the influx of so many foreigners, they should have a Tagalog newspaper, a Vietnamese newspaper, a Thai...and so forth & a better Chinese newspaper other than the ones they have, what quality Chinese papers, have we? In the past, we have sing chew jit poh, nayang siang poh...but now, we have the gossip junk Chinese paper..wanbao..aka as the mah piew poh.

Digital content..they lost money in the past, & being the only news publisher in English here, they did not think out of the box & be creative to garner on line users..instead the focus on MAKING MONEY, not realising that you bring in the audience...that is where your money stream is. Who in the world wants to pay premium price to read ST junk news?, never mind it is FAKE in some way.

A monopolist loosing money...then, any fool, will tell you, the leadership is faulty. omg!..SPH OLD AGE HOME..

 

[Confuseous]

When you have a bad reputation being a mouthpiece for the PAP government, you can only retained eunuchs to work for you while externally you lose credibility and hence no one wants to buy your news products when they can read free propaganda on the net. Lol

Here is a good example of the Master Fake News Maker, aka His Master's Voice, exposed by the Malaysians....

KUALA LUMPUR, Oct 15 ― DAP’s Tony Pua today criticised Singapore’s Straits Times (ST) over what he claimed has been a “persistent misreporting” on 1Malaysia Development Berhad (1MDB).
This follows after ST published stories quoting senior government officials, alleging that the Pakatan Harapan government is facing difficulties in paying a US$50.3million (RM209 million) interest payment incurred by the 1Malaysia Development Berhad (1MDB) to the International Petroleum Investment Co (IPIC).
The payment is reportedly due today.
Pua, who is the political secretary of the Minister of Finance Lim Guan Eng explained that the supposed interest charges is not the first that the Ministry of Finance (MoF) has had to pay for as the ministry had already paid an interest payment of RM143.75 million the on May 30 for a 1MDB bond “guaranteed” by International Petroleum Investment Corporation (IPIC).
“ST got it so wrong because MoF had already authorised and made the October coupon payments without fuss. Surely, ST can get better sources for its stories.
“And what ‘dangerous precedent” is ST referring to?’,” he asked.
Pua also said a full settlement of the milestone payment to IPIC before the October 15 deadline would amount to the “explicit “recognition of the PH government on the liabilities and commitments it inherited from the previous government on all 1MDB-related matters.
“That in turn, would set a dangerous precedent, which other creditors of the scandal-plagued sovereign fund are likely to seize upon when demanding the settlement of debts,” he said.
Pua also explained that the Malaysian government did not owe a whopping US$6.89 billion (RM28.65billion) before interest charges to IPIC’s parent company, Mubadala Development Co PJSC.
“The Abu Dhabi company stated that the guarantee for IPIC debts amounting to approximately US$6.89 billion (RM 28.65billion) will be assumed by its parent company Mudabala Development Company PJSC.
“The announcement at the same time discloses that the ‘Guaranteed Obligations’ provided by IPIC for the two 1MDB bonds amounting to US$3.5 bill (RM14.55 bill), will also be assumed by Mudabala. It doesn’t say that 1MDB owed US$6.89 billion in debts to IPIC or Mudabala,” Pua said.
https://www.msn.com/en-sg/news/nati...reporting’-on-1mdb/ar-BBOriFR?ocid=spartandhp

 

[Rogue Trader]

What do you expect? ST premium news is Sumiko's lunch with Tay ping hui

 

[johnny333]

PAP run Spore must have plenty of mouths to feed. Expensive MPs, civil servants, those working in GLCs, paper generals, etc

ST must employ plenty of loyal PAP faithfuls.

Laying off the redundant in these organisations might be laying off the relatives & friends of the party. There are also many paper generals out there the PAP have to park somewhere like SMRT.

With so many mouths to feed, is it any wonder that they need the $$$?

 

[Pinkieslut]

Shitty Times’ management too busy with interns.

 

[shittypore]

They shld divert into the brothel industry, their speciality.

 

[borom]

This is what happens when you lose credibility-you think all these new citizens will be reading ST-not a chance when they can read free Hindi, Tagalog or Mandarin news from the internet!
Neither are they taking SIA ,preferring to take their own country of birth airlines-just like Pinoys are eating at Jolllibee and the PRC's are eating at Chinamen mala stalls at People's Park .
All the while these multi million dollar ministers only know how to make local hawkers miserable and increase local cost of living by increasing cost for hawkers via these so called social enterprise.

 

[bobby]

The only print newspaper in the country...still cannot make money ????

 

[halsey02]

What do you expect? ST premium news is Sumiko's lunch with Tay ping hui

They had naked sushi? that maybe premium news & must show proof, you are over 18.

 

[Confuseous]

It is obvious there is a new rule in place: in each story, the picture and the words must occupy about 50/50 each. This is the result of cheap/lousy editorial reporting staff working there at cheap wages, to pay for the chiak liak bee at the top. Yesterday, they had two big pictures of two young school girls with some short writeup. They might as well call themselves Straits Pictures.

 

[zhihau]

Fuck the States Times!

 

[AhMeng]

The only print newspaper in the country...still cannot make money ????

Ha-ha.. MONOPOLY in print media still lose money. That's really LUMPAR ONE!

 

[po2wq]

SPH Profits Fall By 19.7%! Not Enough Sinkies Subscribe To ST Premium News Or Use SPH's Old Folks' Home! ...

brame ah johntan n his jingang of fellow crass looters la! ...

join crassloots 4 self serving purposes n free lunches oni ... never subscribe st premium ... never shift in 2 sph o folks home ...

 

[po2wq]

sph burgerz spend their time scheming on making sexual harassmens dan fixing opponens n buying supporterz votes ...