SINGAPORE: SPH posts $437m net profit

Singapore Press Holdings CEO vows to increase revenues and contain costs during uncertain economic times The Straits Times Friday, October 10, 2008 By Chua Hian Hou SINGAPORE'S recession will hurt, but it also presents a good opportunity to snap up good companies on the cheap, said media group Singapore Press Holdings on Friday. SPH's chief executive officer Alan Chan said this at a results briefing, at which it reported record revenue of $1.3 billion for the financial year ended Aug 31. The company, which publishes Singapore's biggest English news daily The Straits Times, had recently announced the acquisition of popular financial portal Shareinvestor.com. Net profit was down 12.4 per cent to $437.4 million, primarily due to lower reduced investment income and an investment-related impairment charge. SPH said despite a... [read full story]