This article was first published on Tom K's blog, and is reproduced with permission
GLOBAL YELLOW PAGES reported a net profit of S$3.1 million for the nine months period ended 31 December 2014, compared to S$5.2 million for the corresponding period last year. This is 39.4% lower.
I think this result will not cheer its investors, especially when the reduced profits arose due to lower revenue (S$21.1 million, a 8.8% y-o-y decrease) coupled with a higher expense of $21.4 million (3.9% higher y-o-y).
Global Yellow Pages' investment in Yamada Green Resources, a company which it holds almost a 20% stake in, as well as other companies, returned almost a similar figure of $1.8 million. There were other gains of S$2.1 million (S$0.4 million higher than corresponding period last year), which though helpful is just a small contribution to the bottom-line.
In Global Yellow Pages' latest financial results, the company's main business in advertising is not doing as well as its newer businesses - Singapore River Tour and Taxi services and ice-cream chain Wendy's in Australia and New Zealand.
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