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SPH reports Full Year Net Profit of $265.3 million

SINGAPORE, 14 October 2016 – Singapore Press Holdings Limited (SPH) today reported its results for the year ended 31 August 2016 (FY2016). Net profit attributable to shareholders of $265.3 million was $56.4 million or 17.5% lower compared to FY2015. 

The results for the year included impairment charges of $28.4 million, which primarily related to the magazine business whose performance was affected by unfavourable market conditions. Similarly, an impairment charge of $9.1m was recognised in FY2015. Excluding the impairment charges, net profit would have fallen by a lower $37.1 million or 11.2%.

At the operating level, group recurring earnings declined $48.3 million or 13.7% year-on-year (“yoy”) to $305.2 million. Group operating revenue of $1,124.3 million was $52.7 million or 4.5% lower than FY2015, as the economic slowdown and structural challenges continued to hurt the Group’s core Media business whose revenue slid by $68.3 million or 7.6% yoy. Against FY2015, advertisement revenue was down $61.5 million or 9.2%, while circulation revenue saw a dip of $5.3 million or 3.0%.  

The decline in the Media business was cushioned by contribution from the Property segment, which reported resilient performance despite a sluggish retail environment. Property revenue rose $10.6 million or 4.6% yoy, bolstered by higher rental and services income from the Group’s retail assets including The Seletar Mall which commenced business on 28 November 2014. 

Revenue from the Group’s other businesses grew $5.0 million or 11.4% against FY2015, lifted by higher income from the exhibitions and online classifieds businesses. 

On the cost front, total costs declined for the third consecutive year despite persistent business cost pressures, a result of the Group’s focus on cost discipline and operating efficiency. Excluding impairment charges, operating expenditure fell $22.6 million or 2.7% yoy. However, this was largely offset by higher impairment charges during the year.

Fair value gain on investment properties was $11.8 million as compared to the $36.3 million gain recorded in FY2015. Investment income of $51.8 million was flat against the previous year.

On the business outlook, Mr Alan Chan, Chief Executive Officer of SPHsaid: “FY2016 has been a challenging year marked by a very tough operating environment. Looking ahead, market conditions are expected to remain difficult in view of the uncertain economic outlook and the continuing disruption of the media industry.    

“We reported in the last quarter that the Group has embarked on a comprehensive review of its core Media business. This exercise is on-going. We will continue to focus on our drive to transform and sustain the Media business whilst pursuing growth opportunities.”
The Directors of SPH have proposed a Final Dividend of 11 cents per share, comprising a Normal Dividend of 8 cents per share and a Special Dividend of 3 cents per share in respect of the financial year ended 31 August 2016. These dividends will be paid on 23 December 2016. Together with the Interim Dividend of 7 cents, total Dividend payout for FY2016 will be 18 cents.

Please see attached SGX announcement and presentation slides.

Issued by Singapore Press Holdings Limited

For more information, please contact:

Chin Soo Fang
Corporate Communications & CSR Division
Singapore Press Holdings
Tel: 6319 1216
Fax: 6319 8150

About Singapore Press Holdings Ltd 

Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.


The English/Malay/Tamil Media group comprises the print and digital operations of The Straits Times, The Business Times, The New Paper, Berita Harian, My Paper (English section) and their respective student publications. It als includes subsidiaries Tamil Murasu Ltd, which publishes Tamil Murasu and tabla!; book publishing arm Straits Times Press; SPH Data Services, which licenses the use of the Straits Times Index, in partnership with the Singapore Exchange and FTSE-Russell Ltd; financial data company ShareInvestor; and the two English stations of SPH Radio - Kiss92 and ONE FM 91.3. 

The Chinese Media group publishes three Chinese newspapers in print and digital format - Lianhe Zaobao, Lianhe Wanbao and Shin Min Daily News; four student weeklies - zbCOMMA, Thumbs Up, Thumbs Up Junior and Thumbs Up Little Junior, ZBBZ Newsgazine and My Paper (Chinese section). It also operates SPH Radio's Chinese radio station, UFM100.3, and Focus Publishing, which  produces a range of books and magazines including U-Weekly. 

SPH's other new media initiatives include AsiaOne, Stomp, and SPH Razor. 

On an average day, 2.4 million* individuals or 58 per cent of people above 15 years old, read one of SPH's news publications in print copies or one of our digital platforms. (
* Nielsen Media Index 2015, Monday-Sunday, read any SPH newspapers in print or digital format) 

SPH Magazines, SPH's wholly-owned subsidiary, publishes and produces more than 100 magazine titles and has various online sites, like in Singapore and the region, covering a broad range of interests from lifestyle to information technology. It has also invested in digital newsstand Magzter.

SPH also provides out-of-home (OOH) advertising options where it manages large format screens and static billboards at key locations in the Central Business District, Orchard Road, City Fringe as well as major heartland hubs.

SPH Buzz is a modern retail convenience chain with a network of stores around the island.

SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8 and U, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today.


SPH REIT is a Singapore-based REIT established to invest in a portfolio of income-producing real estate primarily for retail purposes. SPH REIT comprises Paragon, a premier upscale retail mall and medical suite/office property in Orchard Road and The Clementi Mall, a mid-market suburban mall in the centre of Clementi town.

The Seletar Mall, located in Sengkang, is SPH's latest retail development. This property is a potential asset to be injected into SPH REIT. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, also developed a 43-storey upmarket  residential condominium, Sky@eleven, at Thomson Road.

Other Businesses

Online Classifieds
SPH’s online classifieds include the leading online marketplace for jobs (STJobs, FastJobs), property (STProperty), cars (STCars) and general classifieds (STClassifieds,Trezo), sgCarMart and StreetSine.

SPH's regional joint venture online classifieds business has a number of leading online classifieds sites in the region.

Events and Exhibitions

Sphere Exhibits, Sphere Conferences, Exhibits Inc and Bizlink Exhibition Services organise innovative consumer and trade events and exhibitions as well as large scale conferences in Singapore and the region. 


SPH has a 22 per cent stake in preschool and enrichment provider MindChamps.

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