Have you noticed that the Classified section of The Straits Times was thinner and lighter in recent times? This was borne out by the announcement made by Singapore Press Holdings (SPH) on the first quarter financial results ended 30 November 2016. It showed that the advertising revenue declined 13.5% year-on-year.
When Singapore economy is good, advertisement spending by companies and individuals tends to go up. If you want to know how the current economy is performing, look no further than the performance of SPH. There was a cutback on advertising dollars. When time is hard, the first thing to go is advertising to save operating costs and to conserve cash. Even it is counter common sense since advertising and promotion is to improve sales of companies, advertising is still cut.
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