SPH FY15 profit falls 20.4% on lower property valuation gains

Singapore

SINGAPORE Press Holdings' net profit fell 20.4 per cent for the year ended Aug 31 (FY2015) as smaller fair-value gains on investment properties offset a slight increase in recurring operating profit. The preceding fiscal year (FY2014) also included a one-off gain from a partial divestment.

The media company, whose publications include The Business Times, proposed a final dividend of 13 Singapore cents per share, comprising a normal dividend of eight cents and a special dividend of five cents. The total dividend payout for FY2015 will be 20 Singapore cents, slightly below FY2014's 21 Singapore cents.