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Category: Press Release
SCMP Group Limited reports 1H 2010 net profit of $52.3m.
| Hong Kong, August 26, 2010 – The South China Morning Post Group Limited today announced the audited interim results for the six months ended June 30, 2010. The operating results improved significantly as a result of careful cost management and a more positive economy. Total revenue rose 22%, or HK$75.2m to HK$411.7m compared with HK$336.5m in 1H, 2009. Operating profit totaled HK$69.6m for 1H 2010 after staff costs, production materials, rental and utilities, depreciation, amortization and marketing costs, up from a loss of HK$8.5m in the same period in 2009, and net profit attributable to shareholders for the period was $52.3m, compared with a $14.9m loss during 1H in 2009. Basic earnings per share from continuing operations came to HK$0.034 per share, compared to a loss of HK$0.01 per share in 1H, 2009. Interim dividend per share was HK$0.02. The newspaper publishing division, which generated 83% of the revenue and 70% of the operating profit, reported an increase of 32% from advertising and marketing services, driven by a higher volume of display advertising. Unaudited first half circulation of South China Morning Post and Sunday Morning Post remained stable at 101,800 and 77,400, an increase of 1% and 2% respectively compared to the same period last year. "Our continued vigilance with cost management, maintaining a quality product and creating innovative advertising solutions, has enabled us to recover from the turbulent economy of 2009" said Ms Kuok Hui Kwong, Managing Director and CEO of SCMP Group Ltd. "We are confident that with the continued stabilization of the economy, our business will also see further growth. However, we are cautious and will continue to remain cost conscious and efficiency driven as we approach the second half of the year." The Group is aggressively developing new revenue sources from consumer products. The iPad edition of the South China Morning Post enjoyed a successful launch in July. |
| For further information please contact: Anne Wong Director of Marketing Email: anne.wong@scmp.com |
South China Morning Post captures new global audience with iPad app
South China Morning Post captures new global audience with iPad app. Hong Kong, August 20, 2010 – Hong Kong’s leading English language newspaper, South China Morning Post, has enjoyed great success with the launch of its new iPad. In the four weeks since its launch the app has been downloaded by over 17000 unique users, nearly half of which are from overseas, including USA, Canada, China, Australia, Singapore, Malaysia, UK, Germany and Japan.Launched on 23 July, South China Morning Post‘s new iPad edition became the second most popular app in the Hong Kong App Store on its debut day and has been consistently adding 3000+ unique downloads each week. "The premiere of our iPad app represents our commitment to becoming the globally trusted authoritative source for English language information about Hong Kong and China", said Anne Wong, Director of Marketing for South China Morning Post. "Now, anywhere in the world, iPad users with an interest in the region can easily tap into the news that local Hong Kong business decision makers trust." Reginald Chua, South China Morning Post’s Editor-in-Chief said: "We’re excited about the new opportunities the iPad provides us as a news organization. Our geographic location in Hong Kong makes us uniquely positioned for in-depth reporting on China, and we are now able to provide that information at a touch of a finger for those discerning China watchers." iPad users around the world can currently download the South China Morning Post app on iTunes, free of charge for a limited period. Updated daily at 06.30 Hong Kong time, the complete edition is designed to be downloaded within a couple of minutes, to enable each page to be instantly viewable and fully accessible offline. Download at: http://itunes.apple.com/us/app/south-china-morning-post/id382805033?mt=8 About South China Morning Post First published in 1903, South China Morning Post is Hong Kong’s premier English language newspaper and has the city’s most affluent and influential readership. With a reputation for authoritative, influential and independent reporting on Hong Kong and China, it has won 58 journalistic excellence awards in the past year alone. The newspaper is supported with its online publication scmp.com and its Sunday edition, Sunday Morning Post. |
| For further information please contact: Anne Wong Director of Marketing Email: anne.wong@scmp.com |
South China Morning Post announces new iPad app on the same day as iPad launches in Hong Kong
South China Morning Post announces new iPad app on the same day as iPad launches in Hong Kong Hong Kong, July 21, 2010 – South China Morning Post launches its new iPad app on Friday 23rd July, available as a free daily downloadable trial version timed to coincide with the first day Apple iPad releases in Hong Kong. iPad users will be able to take advantage of the free trial until early August when the full version will be available on iTunes.Marking the launch with an unprecedented full front page takeover of the printed newspaper, the Post will be the first English-language Asian newspaper to develop a dedicated iPad app. While some publications have transferred websites, basic pdf-style executions or their iPhone apps to the new format, South China Morning Post‘s app capitalises on some of the unique functionality of the iPad. Featuring user friendly up/down and side-to-side navigation, touch zoom-in, and all the key news sections in the paper, the app will enable users to scroll through pages using an easy touch navigation panel, or flip through the Business, City and Main sections intuitively. Dr Mario Garcia, one of the news media industry’s most highly respected newspaper design veterans, having collaborated on 450 projects over the past 30 years, including The Wall Street Journal and Die Zeit, commented: "The South China Morning Post can now use this new and vibrant platform of the iPad to continue its long tradition of excellence in journalism, and the English language voice for all things Hong Kong and China. Particularly today, with a global audience to tap into its wealth of information, the Post can truly become a journalistic global player." Reg Chua, South China Morning Post‘s Editor-in-Chief said: "The iPad is at the forefront of a major development in reader options, and we are very excited about the new challenges and opportunities it provides us as a news organisation. With tablets, readers can consume news in a way more akin to the tactile and serendipitous newspaper reading experience, and yet provide deeper, richer content and more readily updatable information". He added: "While we still believe that there will always be a market for the printed paper, which readers can enjoy in a relaxed, offline way, we want to offer them the benefit of a great news reading experience in whichever platform they choose." Anne Wong, Director of Marketing at the Post said: "Our web analytics show that the iPad is already the second highest-used mobile device for downloading our website, scmp.com, despite the device not having launched yet in Hong Kong. It also showed that those users visited more pages than users of any other device. This clearly indicates that our readers are iPad-ready, so when the device launches on Friday in Hong Kong, we want to be there for them with a great purpose-built solution." Ms. Wong also stressed the opportunity iPad provided for advertisers. "Our new app will enable our advertisers to really bring their messages to life, and target South China Morning Post readers with more engaging creative executions." Elaborating, she added: "We’ll assist our advertisers to develop iPad versions of their advertising executions, which can incorporate more dynamic versions of their colour magazine imagery, the ability to touch and manipulate the various colour schemes or styles, flip through brochure pages, include moving images, music and narrative, and appeal more deeply to their consumers’ senses. They will also benefit from the knowledge that their target audiences are likely to spend more time interacting with their products." One key benefit for South China Morning Post readers is the anytime, anywhere availability of their trusted paper. A large proportion of the Post readers are frequent business and leisure travelers, and the new app will enable them to keep in touch with local Hong Kong and China news. In addition, South China Morning Post continues to offer scmp.com, its online website, and SCMP Today, its direct to inbox news headline alert service; it will also be introducing a new user-friendly iPhone app in August. Supporting the most widely used mobile device for scmp.com readers, the new iPhone app will provide a further reader benefit of free headline news. |
| For further information please contact: Anne Wong Director of Marketing Email: anne.wong@scmp.com |
10 Honours for South China Morning Post in the Society of Publishers in Asia Editorial Awards
| Hong Kong, June 9, 2010 – The South China Morning Post is recognized once again for newspaper excellence by scooping five prizes and five honourable mentions at the 2010 Society of Publishers in Asia Awards for Editorial Excellence. The winner announcement was made on Jun 8, 2010 during the gala dinner. With an exclusive series revealing a plot to assassinate Democratic Party founder Martin Lee Chu-ming and media tycoon Jimmy Lai Chee-ying, the Post‘s team consisting of Fox Yi Hu, Barclay Crawford and Ambrose Leung captured the Scoop Award this year. The panel of judges praised "Over three months the articles ably provided an exclusive of the putative hit, an evocative response from [Martin] Lee, a reconstruction of the plan and details of cross-border arrests and prosecution. A clean scoop bagged by strong sourcing and confirmed by the subject himself." Stories from China continued to be a major global focus in 2009 and 2010. South China Morning Post‘s undisputable strength of coverage in the mainland earned a number of awards. The China desk received an honourable mention in breaking-news reporting for their work on the Xinjiang riots in July. He Huifeng, Shi Jiangtao and Choi Chi-yuk scored twice with their series examining the harrowing effects of chemical pollution on villagers in Hunan. The story gained them an award for excellence in reporting on the environment and an honourable mention in the human rights category. Alan Morison, Chutima Sidasathian and Maseeh Rahman, former international editor Ian Young and chief Asia correspondent Greg Torode swept the human rights reporting category for the Post by winning the award for excellence. They exposed a secret Thai army policy of detaining Rohingya boatpeople from Myanmar, towing them to sea and abandoning them. Recognition of this entry coupled with the award for excellence in investigative reporting. Greg Torode additionally picked up an honourable mention under the opinion-writing category with his series of columns on the rise of China. South China Morning Post’s photography and creative design were recognized, with K Y Cheng, Dickson Lee and Sam Tsang being mentioned in news photography, and Terry Pontikos in the information graphics category. Commenting on the outstanding achievements, Editor-in-Chief Reginald Chua said the overall results were a credit to the SCMP team. "I’m very pleased that our good work is recognized by our peers in the region and around the world." said Chua. The awards, established in 1999, are open to English- and Chinese-language papers across Asia and this year attracted 564 entries from regional and local print and digital publications as well as news agencies. List of the 10 awards won by South China Morning Post
About South China Morning Post SCMP Group Limited (SEHK: 583) is a leading newspaper and magazine publisher in Asia. Its flagship publication, South China Morning Post, is Hong Kong’s premier English language newspaper and has the city’s most affluent and influential readership. First published in 1903, the newspaper has developed an enviable reputation for authoritative, influential and independent reporting on Hong Kong, China and the rest of Asia. Its online platform, scmp.com, reaches a global audience of China watchers with daily breaking news, multimedia articles and interactive forums. Striving to maintain the highest standards among the world’s quality newspapers, the South China Morning Post receives constant international recognition. It received over 40 awards in 2009 for excellence in editorial, marketing and technical capability. Most recently, the South China Morning Post received 6 awards at the 31st International Annual Creative Design Competition for Newspapers and Magazines, and scooped 12 awards at the 2009 Society for Publisher’s in Asia (SOPA) editorial excellence awards, more than any other media company. Other publication titles of the Group include the Sunday Morning Post, the Chinese editions of Cosmopolitan, Harper’s Bazaar and CosmoGirl! magazines. |
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| For media enquiry, please contact: Earl Lui Manager, Brand Marketing Tel: (852) 2680 8121 Fax: (852) 2680 8158 Email: earl.lui@scmp.com |
New SCMP Wah Kiu Yat Po Journalism Scholarship Fund to support Professional Journalism Training and Education
| HONG KONG May 27, 2010 – SCMP Group formally inaugurated the newly established SCMP Wah Kiu Yat Po Journalism Scholarship Fund during a dedication ceremony at The University of Hong Kong on May 24. Hong Kong’s leading English language newspaper, the South China Morning Post is the SCMP Group’s flagship publication, and is respected internationally for its award-winning journalistic excellence and insights into Greater China and the region. In addition to its other corporate social responsibility programs, such as Operation Santa Claus and Homes For Hope, SCMP Group took this opportunity to focus on enabling students to gain quality training in the area of journalism. The original funds created by Wah Kiu Yat Po to financially assist school students were taken over by SCMP after the Wah Kiu Yat Po publication was acquired by the Group in 1991. Subsequently the SCMP Wah Kiu Yat Po Journalism Scholarship Fund is formed. The SCMP Group collaborated with The University of Hong Kong and Professor Lap-chee Tsui, its Vice-Chancellor, and more specifically with their Journalism and Media Studies Centre (JMSC), headed by Professor Yuen-ying Chan. The purpose of the scholarship fund is to support students interested in pursuing a tertiary education in the field of journalism. The fund will be used to subsidise the fees and expenses of Undergraduate and Masters students at the JMSC. The scholarship will be administrated by the university, and is open to both local and overseas students. Kuok Hui Kwong, Managing Director and Chief Executive Officer of the SCMP Group in her dedication speech said, "As a trusted member of the news media industry, we at the SCMP Group understand the vital role journalism plays in our daily life. Investigating, analyzing, accurately reporting and making sense of what’s happening; these are the reasons all of us need highly trained professional journalists to continue their important work." Ms. Kuok and Shum Choi-sang, Chairman of the Allocation Committee of the Wah Kiu Yat Po Fund for the Relief of Underprivileged Children presented a cheque for HK $2 million to the university during the ceremony. |
Media Enquiries Earl Lui Tel:(852) 2680-8121 Email: earl.lui@scmp.com |
South China Morning Post captured 14 Prizes in the 14th Annual Human Rights Press Awards
| Hong Kong, April 19, 2010 – The South China Morning Post has won a record 14 prizes in the 14th Annual Human Rights Press Awards, co-organized by the Hong Kong Journalists Association, Amnesty International Hong Kong and The Foreign Correspondents’ Club, Hong Kong. Awards were given in recognition of outstanding reporting of human rights during a ceremony on 17 April, 2010. The Post collected the top prizes and special merits across different categories, dominating the awards by beating major international newsweeklies and agencies, as well as local and regional newspapers. The team of Alan Morison, Chutima Sidasathian and Maseeh Rahman, former international editor Ian Young and chief Asia correspondent Greg Torode won the general news prize for exposing a secret Thai army policy of detaining Rohingya boatpeople from Myanmar, towing them to sea and abandoning them. He Huifeng and Shi Jiangtao were given special merit under the same category for their story "Hunan’s stricken village", which examined the harrowing effects of chemical pollution on villagers. Mark O’Neil also won special merit for coverage of mainland lawyers battling to reform the system. Dr. DaviIn the Features section the main prize went to reporters Raymond Li and Al Guo for their coverage of the Sichuan earthquake one year on. Paul Mooney won the prize for the magazine section for a gripping story of how young men were being kidnapped as slave labour in brick factories on the mainland. Additionally, three special merits were obtained within these two sections. Articles "Shock and awe in Myanmar’s ‘diplomacy’" and "Face up to tragedy so nation can move on", written by Greg Torode and Ramon Odlum respectively, were the sole winners in the commentary and analysis category. Besides editorial pieces, the South China Morning Post also scooped 4 awards with their cartoon and photographic works. Cartoonist Harry Harrison won a special prize for a body of work. Photographers Sam Tsang and K.Y. Cheng won special merit awards in the spot news section for photographs depicting the life of "cage men" in Hong Kong and the effects of pollution on health. Violet Law, of Post Magazine, won the main prize for photo features with her work Writing Wrongs. Editor-in-Chief of the South China Morning Post, Reginald Chua, said the paper was delighted to have stood out among a very strong competitive field. "These awards attract the best work from local, regional and international news organisations in Asia; we very pleased that the judges ranked us among the top in the region," said Chua. The complete list of South China Morning Post’s awards received during the 14th Annual Human Rights Press Awards is as follows: English-Language Categories General News Prize – "Thailand’s Secret Refugees" by Alan Morison, Chutima Sidasathian, Maseeh Rahman, Ian Young, Greg Torode Special Merit – "Hunan’s Stricken Village" by He Huifeng, Shi Jiangtao Special Merit – "The Mainland Public Defenders Who Want to Reform the System" by Mark O’Neil Features Prize – "One Year on the Sichuan Earthquake" by Raymond Li, Al Guo Special Merit – "A People Ignored" by Paul Mooney Special Merit – "20 Years On From Tiananmen" by Albert Wong, Eva Wu, Vivian Wu Magazines Prize – "The Lost Boys" by Paul Mooney Special Merit – "Human Resource" by Simon Parry Commentary and Analysis Special Merit – "Shock and Awe in Myanmar’s ‘Diplomacy’" by Greg Torode Special Merit – "Face up to Tragedy so Nation can Move On" by Ramon Odlum Cartoon Special Prize – Harry Harrison for a body of work Photojournalism Features Prize – "Writing Wrongs" by Violet Law and Du Bin of Post Magazine Spot News Special Merit – "Life in Cage" by Sam Tsang Special Merit – "Pollution Leaves Its Mark" by K.Y. Cheng About the South China Morning Post SCMP Group Limited (SEHK: 583) is a leading newspaper and magazine publisher in Asia. Its flagship publication, South China Morning Post, is Hong Kong’s premier English language newspaper and has the city’s most affluent and influential readership. First published in 1903, the newspaper has developed an enviable reputation for authoritative, influential and independent reporting on Hong Kong, China and the rest of Asia. Its online platform, scmp.com, reaches a global audience of China watchers with daily breaking news, multimedia articles and interactive forums. Striving to maintain the highest standards among the world’s quality newspapers, the South China Morning Post receives constant international recognition. It received over 40 awards in 2009 for excellence in editorial, marketing and technical capability. Most recently, the South China Morning Post received 6 awards at the 31st International Annual Creative Design Competition for Newspapers and Magazines, and scooped 12 awards at the 2009 Society for Publisher’s in Asia (SOPA) editorial excellence awards, more than any other media company. Other publication titles of the Group include the Sunday Morning Post, the Chinese editions of Cosmopolitan, Harper’s Bazaar and CosmoGirl! magazines. |
For media enquiries, please contact: Earl Lui Manager, Brand Marketing Tel: (852) 2680 8121 Fax: (852) 2680 8158 Email: earl.lui@scmp.com |
SCMP Group Limited Full Year Results Announcement 2009
| Hong Kong, March 22, 2010 – The SCMP Group Limited today announced the audited final results for the year ended December 31, 2009. Total revenue for the year was HK$740.7 million, and recurring operating profit for the year after staff costs, production materials, rental and utilities, depreciation, amortization, marketing costs and other operating expenses totaled HK$45.6 million, down from HK$227.6 million in 2008. Operating profit for the year was HK$185.2 million, compared with HK$152.1 million for the full year in 2008. This included a revaluation gain (before tax impact) of HK$134.9 million in 2009 while there was a revaluation loss of HK$81.2 million in 2008. Full year net profit after income tax and other losses was HK$148.1million. Profit attributable to Shareholders of the Company amounted to HK$138.2 million. Basic earnings per share from continuing operations came to 8.9 cents per share. "We are pleased to deliver a turnaround in profitability from a very challenging first half of the year, and continue to see a positive impact on our business as the economy stabilizes," said Managing Director & CEO Ms. Kuok Hui Kwong. "Our results reflect our ability to restructure our business in response to a challenging economic environment, our continued brand strength, and our ability to deliver innovative and comprehensive solutions to attract advertisers increasingly under pressure." Despite a 1.7% drop in audited circulation from second half 2008 to 100,860 during the first half of 2009, the group remain confident that the South China Morning Post would see some improvement in the second half of the year, although HKABC audited figures were not yet available at the time of going to press. Conversely, full year readership figures for the daily and weekend editions including SCMP.com showed an increase from 359,000 in 2008 to 376,000 in 2009 (Nielsen Media Index Year End report 2009). Display advertising revenues declined 32% relative to 2008 as the economic downturn caused advertisers to reduce spending, but the group saw clear signs of recovery in the fourth quarter and are developing new products to capture higher market share. The Group’s leading women’s titles in Hong Kong, Cosmopolitan, CosmoGIRL! and Harper’s Bazaar, all remain well positioned for the future. However, the Group ceased publication of Maxim in China. Cosmopolitan, which reached a 25th year anniversary milestone in 2009, was able to grow its circulation by 3% during the year. Overall, however, the magazine portfolio saw a 19% reduction in revenue in 2009. Editorially, the group enjoyed a significant number of award wins, including 8 top awards and 4 honourable mentions in the prestigious Society of Publishers in Asia Editorial Awards, and 16 wins in the Hong Kong News Awards, amongst others. "We remain cautiously optimistic about 2010." said Ms. Kuok. "From our recent launch of an enhanced and comprehensive recruitment product, to our proven continued strength as a foremost information leader on Hong Kong and Mainland China, SCMP is well positioned to build upon a solid foundation and grow. Our key focus going forward is to leverage our strengths and core competencies to build a broader business base." |
Contact: Company Secretary Vera Leung Tel: (852) 2680 8805 Email: corporatesecretarial@scmp.com Media Enquiries Earl Lui Tel: (852) 2680 8121 Email: earl.lui@scmp.com |
SCMP Group Limited Appoints New Independent Non-Executive Director
| Hong Kong, March 22, 2010 – The Board of Directors of SCMP Group Limited announces today the appointment of Dr. Fred Hu Zu Liu as an Independent Non-executive Director of the Company with effect from 23 March 2010. Dr. Hu has also been appointed as a member of the Strategy Committee of the Company with effect from the same date. Dr. Hu, aged 47, is currently the Chairman of Greater China at Goldman Sachs. Before joining Goldman Sachs in 1997, Dr. Hu was a staff member at the International Monetary Fund (IMF) in Washington D.C., U.S.A., where he was engaged in macroeconomic research and policy consultation for a number of member country governments including China. Dr. Hu has advised the Chinese government on a number of economic policies and has worked closely with China’s leading companies, including Bank of China, Bank of Communications, ICBC, Ping An and China Development Bank, on setting various business strategies. He is also a member of the Strategic Development Committee chaired by the Chief Executive of the Hong Kong Special Administrative Region. On the academic side he served as co-director and professor at the National Center for Economic Research (NCER) at Tsinghua University. Dr. Hu is also a member of the editorial board for several academic journals, including the International Economic Review, and is a columnist for Caijing, China’s leading financial and business magazine. Dr. David J. Pang, Chairman at SCMP Group Limited, said: "SCMP is delighted to welcome Dr. Hu to the Board. Dr Hu is an extremely knowledgeable and experienced business leader in both Greater China and internationally. As a member of the Strategy Committee, his knowledge and insights into China will add a depth of perspective at both a strategic and practical level. I am confident that Dr Hu will make a valuable contribution to the existing board and help to drive growth for our business. We all very much look forward to working with him." |
Contact: Company Secretary Vera Leung Tel: (852) 2680 8805 Email: corporatesecretarial@scmp.com Media Enquiries Earl Lui Tel: (852) 2680 8121 Email: earl.lui@scmp.com |
South China Morning Post Scoops 16 Prizes in the 2009 Hong Kong News Awards
| Hong Kong, March 12, 2010 – The South China Morning Post has won a record 16 prizes in the 2009 Hong Kong News Awards. The Post collected the top prizes for best scoop and best business writing in English at the Newspaper Society of Hong Kong’s awards announced on March 10 2010. SCMP also won the top awards for news writing in English, page design and news photography – the latter one of six gongs for the paper’s photographers. Beating last year’s haul of 13 prizes, the newspaper saw the team of Alan Morison, Chutima Sidasathian, Greg Torode, Maseeh Rahman and Ian Young take scoop of the year for their investigation into the plight of the Rohingya boatpeople in Thai custody. First runner-up prize went to reporters Barclay Crawford, Fox Yi Hu and Ambrose Leung for revealing a plot to assassinate Democratic Party founder Martin Lee Chu-ming. Post reporters swept all three prizes in the category of best English business news writing. Editor-in-Chief of the South China Morning Post, Reginald Chua, said the paper was delighted to have won such prestigious awards. "We strive to give our readers smart, credible, and useful information every day, and it’s very gratifying that the judges think we succeed," said Chua. About the South China Morning Post SCMP Group Limited (SEHK: 583) is a leading newspaper and magazine publisher in Asia. Its flagship publication, South China Morning Post, is Hong Kong’s premier English language newspaper and has the city’s most affluent and influential readership. First published in 1903, the newspaper has developed an enviable reputation for authoritative, influential and independent reporting on Hong Kong, China and the rest of Asia. Its online platform, scmp.com, reaches a global audience of China watchers with daily breaking news, multimedia articles and interactive forums. Striving to maintain the highest standards among the world’s quality newspapers, the South China Morning Post receives constant international recognition. It received over 40 awards in 2009 for excellence in editorial, marketing and technical capability. Most recently, the South China Morning Post received 6 awards at the 31st International Annual Creative Design Competition for Newspapers and Magazines, and scooped 12 awards at the 2009 Society for Publisher’s in Asia (SOPA) editorial excellence awards, more than any other media company. Other publication titles of the Group include the Sunday Morning Post, the Chinese editions of Cosmopolitan, Harper’s Bazaar and CosmoGirl! magazines. |
| For media enquiry, please contact: Earl Lui Manager, Brand Marketing Tel: (852) 2680 8121 Fax: (852) 2680 8158 Email: earl.lui@scmp.com |