SINGAPORE: Media conglomerate Singapore Press Holdings (SPH) said its year to August net profit rose 44.2% to S$546.28mil from S$378.74mil a year earlier, mainly due to exceptional gains from the sale of its Times House site and its stake in Belgacom.
SPH said that the S$28.68mil in exceptional items included the S$110.1mil gain on sale of Times House, which was partially offset by a S$15.5mil impairment losses on property, plant and equipment and a S$65.3mil charge when SPH reviewed its broadcasting assets.
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