Global Yellow Pages turns around

GLOBAL Yellow Pages swung into the black with a net profit of $5.13 million for the financial year ended March 31, from its loss of $124.27 million in the previous year.

The net loss in FY2013 had come from one-off expenses arising from impairment of intangible assets, restructuring costs and accelerated amortisation.

Stripping out the one-off expenses, the group's FY14 net profit was $1.5 million higher than FY13's adjusted net profit of $3.2 million.