Covid-19 related writedown sends SPH into red ink of S$83.7 mil, dividend slashed

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SINGAPORE (Oct 13): Singapore Press Holdings, which makes property investments and publishes newspapers, has reported a loss of S$83.7 million for the full year ended Aug 31, 2020 (FY20), reversing earnings of S$213.2 million a year ago.

Revenue for the same period was down 9.8% y-o-y to S$865.7 million. Its media business suffered a 22.8% y-o-y decline to S$445.2 million. Operating earnings for the year came in at S$110.3 million, down 41% y-oy.

The company, which used to be popular among shareholders for its generous dividends, announced...(click on link for full story on theedgesingapore.com)