SINGAPORE — Singapore Press Holdings on Tuesday reported the group’s first-ever full-year net loss of $83.7 million in its 2020 financial year , attributing it to the economic disruption brought upon by the COVID-19 pandemic.
Digital advertisement revenue also took a hit, with a 6.2 per cent dip to $54.8 million despite a steady growth since the 2017 financial year. SPH CEO Ng Yat Chung said, “All our major business segments were severely disrupted by COVID-19. Our media business is badly affected by the collapse in advertising. However, the 9.4 per cent growth in circulation numbers from the success of our News Tablet digital product and higher readership is a bright spot.”
Revenue from the purpose-built student accommodation portfolio grew by 60.6 per cent or $22.1 million due to the Student Castle portfolio and a full year’s revenue from the acquisitions made in the last financial year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rafa's Roland Garros record the best in sport - MurrayRafa Nadal's record of 13 French Open singles titles is one of sport's all-time greatest achievements and one that is unlikely to ever be broken, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
64-year-old man is Singapore’s 28th COVID-19 fatality; first in three monthsSINGAPORE: A 64-year-old man became Singapore's 28th COVID-19 fatality after he died due to complications arising from COVID-19 infection, said ... no medication like dexamethasone or Trump elixir?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Singapore stock watch: UOB, Tiong Seng, Pollux Properties, Incredible HoldingsSINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Monday (Oct 12):. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Johnson & Johnson hikes full-year profit forecast on pharma strengthREUTERS: Johnson & Johnson hiked its full-year profit forecast for the second time in 2020, as strong demand for its cancer and Crohn's disease ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hyundai to build S$400 million innovation centre for future mobility studies in JurongSINGAPORE: A S$400 million Hyundai innovation centre in Singapore focusing on future mobility research and development is set to be completed by ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Singapore launches first institute dedicated to green finance research and talent developmentSINGAPORE: Singapore's first institute dedicated to green finance research and talent development was launched on Tuesday (Oct 13) by the Imperial ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »