Telecoms, media see profits slide

LISTED telecom, media and entertainment firms reported a drop in first-quarter net profit even though some of them recorded revenue growth, as their costs rose from both network installation and higher licence fees. Weighed down by costs. Companies in the telecoms, entertainment and media sectors struggled in the first quarter of this year, with many of them reporting reduced profit growth from the year-earlier period in stock exchange announcements. The companies cited high investment costs and payments for business licences for 4G and digital TV operations.

Keep reading