SINGAPORE: Singapore Press Holdings, the publisher of the city-state's largest newspaper The Straits Times, announced on Friday that its net profit for the first quarter ended in November 2016 dropped 43.8% on the year to S$45.7 million. Lower advertising revenue as well as costs incurred by the ongoing restructuring of its businesses resulted in a sharp profit decline. Revenue for the period was S$278.3 million, down 6% from S$296.2 million in the corresponding period a year ago. To cope with the lower readership for its print publications and falling advertising revenue, SPH adjusted its printing capacity and restructured its video business. While the company has invested in several new media startups, most of them "continue to be loss making," the report showe

Source: The Star January 14, 2017 02:33 UTC