Media firm Singapore Press Holdings (SPH) (SPRM.SI) said on Friday its first quarter net profit fell 29.3% due to a drop in operating revenue from its property segment.
SPH’s net profit for the three months ended November 30 was $102.3 million, down from $144.7 million in the same period a year ago, it said in a statement.
The company, which has a near monopoly on newspaper publishing in Singapore, also said its first quarter revenue fell by 10% to $318.7 million as revenue from property business plunged 63% to $36.8 million.
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