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