Profit slips just 3.6% to $422m; recurring earnings also sturdy at $497m
In spite of challenging conditions, media group Singapore Press Holdings yesterday reported a net profit of $421.9 million for the year ended Aug 31, 2009, 3.6 per cent lower than the preceding year’s $437.4 million.
Revenue held steady at $1.3 billion as a surge in property revenue compensated for a 12 per cent fall in the core newspaper and magazine segment.
SPH publishes 17 newspapers, including The Business Times, and more than 100 magazine titles.
The company announced a final dividend of 18 cents a share, comprising a normal dividend of 9 cents and a special dividend of 9 cents, to be paid on Dec 23.
Total payout for FY2009 is 25 cents, or 6.4 per cent based on yesterday’s closing price of $3.88 a share. Earnings per share was 26 cents, compared with 27 cents for the preceding year. Continue reading
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