For the 1H18, earnings came in 1.4% higher at $100.6 million. Group operating revenue of $492.5 million in 1H18 was 4.6% lower compared to a year ago. Revenue for the media business decreased by 10.9% to $329.5 million. Revenue for the property segment came in stable at $121.7 million.
Revenue from the other businesses grew $17.3 million or 72.4% to $41.3 million, led by contributions from the aged care business.
As at end February, cash and cash equivalents stood at $228.6 million.
SPH says the group has released all-digital subscription plans at different price points, accelerating its “First to Digital” initiatives to pursue digital revenue more aggressively.
See also: Jardine Matheson posts loss of US$468 mil, but underlying net profit stood at US$1.47 bil
In its property segment, SPH looks forward to the launch of The Woodleigh Residences and The Woodleigh Mall in March.
The group’s aged care operations Orange Valley opened its sixth nursing home at Balestier in January. With more than 1,000 beds in Singapore, Orange Valley is the largest local private nursing home operator
The board has recommended an interim dividend of 6 cents per share for 1H18, unchanged from a year ago.
Shares of SPH closed 1 cent lower at $2.49 on Tuesday.
