Magazines help boost profits at SCMP Group past HK$1b

SCMP Group's revenue crossed the HK$1 billion mark last year for the first time since 2008, helped by new income sources such as the recently acquired Elle magazine and higher revenue contribution from its magazines business.

While revenue rose 8 per cent to HK$1.02 billion, net profit for 2012 slipped to HK$329.1 million from HK$409.9 million the year before because of continuing investment in the company's digital business and a lower profit margin in contract printing. SCMP Group said investments in new media "will bring in solid profit contribution" in the long term.

via Business feed http://www.scmp.com/business/companies/article/1199792/magazines-help-boost-profits-scmp-group-past-hk1b