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SPH profit down 25%; creates $100m fund

The New Media Fund will look to invest in related businesses to reinvigorate the group's core business

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Published Fri, Oct 11, 2013 · 10:00 PM

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    Singapore

    SINGAPORE Press Holdings (SPH) is establishing a $100 million New Media Fund to reinvigorate its core business after weak ad and circulation sales dragged fiscal 2013 net profit down by 25 per cent.

    "If I am direct, most of our indicators are down," SPH chief financial officer Tony Mallek said at a press briefing.

    Copyright SPH Media. All rights reserved.

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