Global Yellow Pages, the largest publisher of directories and provider of classified directory advertising in Singapore, announced a net loss of $5.7 million for the six months ended 30 September 2011 (1HFY2012).
The company says the net loss is in line with its seasonality trend. The group typically registers losses in the earlier part of the financial year as sales from major print directories, which constitute the bulk of the group’s revenue, are only recognised in the later part of the financial year.
The group’s revenue for the half year ended 30 September 2011 of $5.4 million was lower by 27.3% as compared to the corresponding period last year due to timing differences in the revenue recognition of certain print directories, offset by an increase in revenue contributed by recently acquired subsidiaries.
Total expenses increased 12.3% from the corresponding period last year to $13.5 million for the half year ended 30 September 2011, due largely to an increase in staff costs from recently acquired subsidiaries although other expenses decreased mainly due to higher write back of provision for doubtful debts.
Global Yellow Pages says its performance is expected to be adversely affected as increased global economic uncertainties cast a shadow on the business environment. Nevertheless, the group remains focused on creating value for its SME client base and users, through its three core pillars of search leadership, data expertise and business solutions.
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