SPH beats expectations with 9.6% Q3 profit rise

Singapore

SINGAPORE Press Holdings (SPH) delivered a better-than-expected performance for its fiscal third quarter ended May 31.

The media group, whose business segments also include property and exhibitions, posted a 9.6 per cent rise to S$98.2 million in net profit attributable to shareholders.

This worked out to earnings per share (EPS) of six Singapore cents for the quarter, beating a consensus forecast of 5.4 Singapore cents based on Bloomberg data.

The period saw operating profit - representing the group's recurring earnings - rise 6.9 per cent to S$105.2 million as total revenue inched up 0.5 per cent to S$314.5 million while total operating expenditure declined S$5.1 million or 2.4 per cent to S$209.3 million. Citing reduced newsprint costs and a lower bonus provision, SPH said that the group continued to deliver on th…