According to the official press release, the losses can mainly be attributed to the decrease in financial notice advertising, following the change in listing rules last year. A volatile stock market has added to the losses. While circulation figures increased one per cent for both the SCMP and the Sunday Morning Post (up to 107,080 and 81,827 respectively), publishing revenues, which account for 96 per cent of the group’s income, dropped 13 per cent.
The losses come after a turbulent six months for SCMP Group, which has seen privatisation attempts by the Kuok family-controlled Kerry Group thwarted by the rest of the shareholders.
The losses come after a turbulent six months for SCMP Group, which has seen privatisation attempts by the Kuok family-controlled Kerry Group thwarted by the rest of the shareholders.
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