SCMP on the upswing
Hong Kong - SCMP Group reported a HK$371 million profit for 2011, thanks to stronger advertising sales, growth in digital advertising and its marketing services business.
Revenue was $946 million, up 7% compared with last year.
For SCMP's newspaper division, revenue from advertising and marketing services grew 9%, mainly contributed from sectors of overseas property, fashion and branded goods, telecommunication, and watches and jewellery.
Revenue from customised publishing increased threefold this year for the SCMP Group. In the past year, it has rolled out new titles or increased frequency of a number of its custom publishing projects such as Faces, Good Eating, Luxehomes and Paris Shopping Guide.
The unaudited second half 2011 circulation figures of South China Morning Post and Sunday Morning Post are estimated at 103,328 and 80,357, slightly increased by 2% and 1% year-on-year.
Among its expenses, advertising and promotions increased 15% due to a series of marketing promotions to support the relaunch of South China Morning Post, Classified Post and Jiu Jik.
Kuok Hui Kwong, managing director and CEO of SCMP Group, said the net results shows a bright future for the group.
"We prepared ourselves for a changing industry and a cautious advertiser market and focused our efforts on strengthening our brands and our products, particularly South China Morning Post, as well as boosting our digital offerings."
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- South China Morning Post Publishers
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