SINGAPORE: Media company Singapore Press Holdings (SPH) reported a 43.8 per cent slide in first quarter net profit, which came in at $45.7 million.
Group operating revenue for the three months ended Nov 30, 2016 fell by 6 per cent over the same period a year ago to $278.3 million.
SPH said the slowing economy and ongoing disruption of the media industry continued to weigh on the media business, which saw a 9.5 per cent drop in revenue, largely due to a 13.5 per cent fall in advertisement revenue.
