HEADLINES: SPH profits grow on back of property operations

Singapore Press Holdings has reported a net profit of S$83.8 million (US$49 million) for the quarter ended November 30, slightly up from $82.8 million the year before. Declines in its newspaper, magazine and broadcasting revenue were offset by a sharp rise in income of its property operations. Its broadcasting arm, SPH MediaWorks, fell deeper into the red, recording an operating loss of $10 million from $6.3 million the year before.