Media revenue fell 23% in the full year as advertisers reduced spend due to Covid-19.
Advertisers have cut back media spend throughout the pandemic, despite readership increasing.
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.
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