SPH Q3 profit falls 46.4% on impairments in magazines

Singapore

SINGAPORE Press Holdings' (SPH) net profit fell 46.4 per cent to S$52.7 million, or three Singapore cents per share, for its fiscal third quarter after the group made significant impairments due to a weak magazine business.

For the nine months ended May 31, net profit was down 20.7 per cent at S$237.2 million, or 12 cents per share, the media and property group announced after the market closed on Friday. SPH is the parent company of The Business Times.

SPH shares closed at S$4.07 on Friday, up one per cent or four cents,…