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SPH's FY16 net profit down 17.5% to S$265.3m

On reports of lay-offs, merger of tabloids, CEO says some of group's plans awaiting approval
Saturday, October 15, 2016 - 05:50
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At SPH's press briefing are: (from left) Ms Elsie Chua (chief marketing officer, Integrated Marketing Division), Mr Mallek, Mr Patrick Daniel (deputy CEO), Mr Chan, Mr Anthony Tan (deputy CEO), Ms Janice Wu (executive vice-president, Corporate Development Division), and Mr Chua Wee Phong (executive vice-president, Circulation Division).

Singapore

SINGAPORE Press Holdings' (SPH) net profit for fiscal 2016 fell 17.5 per cent to S$265.3 million as revenue from its core media business continued to decline and impairments from the magazine segment cut into the bottom line.

The media and property group, whose