These gains were partially offset by charges of $96 million, which included impairment of the magazine business amid unfavourable market conditions, writedown of printing presses due to consolidation of printing capacity, and write-down of investments in associates to realisable value.
SINGAPORE (Oct 11): Singapore Press Holdings (SPH) reported earnings of $350.1 million for the FY17 ended August, an improvement of 32% from $265.3 million a year ago.
However, this was mainly due to a one-off gain of $149.7 million from the partial divestment of its stake in a joint venture regional online classifieds business, as well as a fair value gain of $57.4 million on its investment properties.
