161 views

SPH bounces back with 69.8% increase in operating profit

This follows after SPH restructured its media business.

Singapore Press Holdings Limited (SPH) revealed an operating profit of 69.8% to $206.7m for the financial year 2021.

The group strategically restructured its media business, thus incurring a $38.7m operating loss. This is less when compared to the $40.1m loss in the financial year 2020. The overall loss, however, is expected to widen further. 

Factoring in the Job Support Scheme funding, the media’s operating loss stands at $13m. Together with $115.3m of media restructuring costs, a media loss of $128.3m was recorded in the 2021 financial year.

According to SPH CEO Ng Yat Chung, the restructuring enabled SPH to avoid losses. "We will focus on expanding the portfolio of the non-media business. The next step is for shareholders to consider the privatisation offer from Keppel.”

SPH's total revenue grew by 2.4% to reach $475.1m, following the higher rental income from retail and commercial and purpose-built student accommodation (PBSA) driven by the expanded portfolios and lower tenant rental relief for retail tenants.

The increase was partially offset by the absence of revenue from the supply of masks by Aged Care. Total costs fell 21.6% mainly due to lower costs of Aged Care in line with lower revenue as well as the absence of impairment of intangible assets of S$17.5m from Orange Valley and PBSA in FY2020.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!