As media revenues continue to shrink in first half results, publisher warns of COVID-19 hit to all its businesses.
Singapore Press Holdings operating profit falls 28% in the first quarter as property portfolio again offsets media struggles.
A sobering outlook from Singapore’s publishing giant in its 2018/9 financial year results, as it gets underway with a streamlining strategy.
Shortened holiday ad period and slowing print revenues weigh on results in first half of fiscal year.
But digital subscriptions at the Singapore media publisher are on the rise.
The move to all-digital publication of the free tabloid Today will eliminate about 40 jobs, the company said.
Top news, insights and analysis every weekday
Sign up for Campaign Bulletins