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SINGAPORE : Directory publisher Yellow Pages has narrowed its losses by 41.5 per cent for the six months ended September to S$4.5 million, from S$7.7 million in the previous corresponding period.
Revenue rose 5.6 per cent to S$5.6 million.
In a filing to the Singapore Exchange, Yellow Pages said its cost-cutting strategy enabled it to lower staff costs by 7.6 per cent, mainly from reducing headcount.
In October, it withdrew its mandatory conditional cash offer for all shares of Cityneon Holdings and subsequently accepted a counter offer from Laviani, a wholly-owned subsidiary of Star Publications (Malaysia).
Looking ahead, the group said it is working to establish a presence in the magazine industry following its acquisition of Global Magazines in July this year. - CNA /ls
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