Singapore Press Holdings reports 25% drop in full year net profit to $431 million
Singapore Press Holdings has posted a 25 per cent drop in full year net profit to $431 million.
Revenue for the year ended Aug 31 edged down 2.6 per cent to $1.24 billion.
The current year's results included a fair value gain of $111.4 million arising from the change in recognition of investment properties from cost to fair value basis following the establishment of SPH REIT.
This was 43.9 per cent lower than the fair value gain recognised in the previous year based on restated financial statements.