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SPH posts Q3 profit of $89.6m

Net earnings hit by absence of one-off fair value gain but operating profit up

Group operating revenue slipped 4.7 per cent to $309.7 million. Turnover from SPH's newspaper and magazine business fell 7.6 per cent to $239.5 million' - PHOTO: SPH

CONTINUED cost and efficiency measures paid off for Singapore Press Holdings (SPH) as it achieved a 7.5 per cent rise in third-quarter operating profit to $98.4 million despite a dip in group operating revenue.

But SPH's net profit for the three months ended May 31 fell 52.2 per cent to $