First-half net profit hit (達至) HK$91.1 million at Sing Tao News Corporation (1105), publishers of The Standard, Headline Daily and Sing Tao Daily.
Earnings per share were 10.47 HK cents, and interim dividend was boosted to 4.5 HK cents a share from 3.5 HK cents a year back.
Revenue (收入) reached HK$1.15 billion in the six months to June 30 on strong development of the media business, which booked a 6 percent growth in turnover to HK$985.9 million.
Headline Daily remained the major profit contributor (note 1), extending its market lead as average daily circulation crossed 800,000, and average readership numbers touched 1.69 million.
Chairman Charles Ho Tsu-kwok said increased competition is as much an opportunity (機會) as it is a challenge.
"Free newspapers now account for (note 2) less than a third of the total newspaper advertising pie (note 3), and we expect their share to grow to 50 percent or more," Ho said.
"Our vision is for Headline Daily to be the biggest winner in a large advertising market for free newspapers and to become the most prevalent (廣泛流行) newspaper."
With average cost of newsprint surging 25 percent and labor costs rising 4 percent, profit from the media segment totaled HK$97.4 million - compared with HK$106.2 million a year back.
The Standard continued to mark steady growth in readership, outdoing its nearest rival (note 4), which recorded a decline in reader numbers, advertising volume and average page rates.
The magazine business, which includes East Week, East Touch, JET and PC Market, enjoyed robust growth (note 5) during the period.
Shares rose 3.1 percent to HK$1.68 yesterday.
Meanwhile, CITIC Securities has obtained approval from Beijing to list in Hong Kong.
China's largest broker (經紀) can sell up to 1.14 billion shares.
From good to better English:
(note 1) major profit contributor=主要盈利貢獻來源。Contributor=捐助者，贈送者, 投稿人。例句: Victor is a contributor to the Standard newspaper= Victor是<<虎報>>投稿人之一。
(note 2) account for=佔有。account for =說明,解析 (Explain or justify)。例句: Julian was upset because her boyfriend couldn't account for the three hours between his last class and his arrival at home= Julian感到很煩亂因為她的男朋友不能交代下課後幾小時去了哪裡。accounts payable=應付帳款, 應付款項。accounts receivable= 應收帳款, 應收款項。give a good account of oneself= 為自己辯護。give an account of=講述。 on one's own account=為自身利益, 靠自己。take into account=重視,,考慮。
(note 3) advertising pie=廣告總額。Pie=餡餅。a pie in the sky=烏托邦；渺茫的幸福。 (as) easy as a pie=〕極容易。 eat humble pie=忍辱含垢。 have a finger in the pie=干預，插手。 put one's finger into another's pie=多管閒事。
(note 4) rival=對手 (虎報的對手是南華早報)。a rival in love=情敵。 without a rival=無與匹敵，無敵。
(note 5) robust growth=強壯的，強健的增長。robust 的同義詞有able-bodied, iron, lusty, red-blooded, strapping, sturdy, vigorous, vital等。
Victor’s View: It is impressive to see that Sing Tao’s earnings in the first half topped $91 million. It wasn’t easy in a tough media market. The chairman’s prediction that more advertising dollars will flow to free papers might turn some paid-papers’ bosses into insomniacs.
(Victor Fung Keung, director of HK Baptist University’s M.A. in international journalism program, has published 4 books on English-enhancement [the latest, titled <<學會演說、改變你的人生>>, was published on July 18] and plans to write 6 more by the end of 2012. Write to him: deanfungenglish@gmail.com)
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