Singapore Press Holdings (SPH) posted a sharper-than-expected, 15 per cent year-on-year drop in its second fiscal quarter earnings amid a drop in advertising sales.

The media and property group said that net profit attributable to shareholders fell to $71.5 million, or 4 cents per share, for the quarter ended February.

A Bloomberg poll placed street consensus for earnings per share of 5.5 cents for the quarter.

Net asset value per share declined to $1.35 per share as at Feb 28, 2013, from $1.39 as at Aug 31, 2012.

SPH declared an interim dividend of Singapore cents per share to by paid on May 23.