HIGH PROFILE POST ROLLS ON
WHAT would breakfast be without the South China Morning Post? Of all Hutchison companies, this printing, publishing and communications group, in which Hutchison owns a 25% interest, must have the highest profile.
An independent survey conducted during 1985 concluded that each issue of the South China Morning Post has at least 230,000 readers, three times more than all other English language newspapers in Hong Kong.
"Daily newspaper sales are presently running almost 10% up on last year," says managing director Tom Lennon. "On the Sunday Morning Post, which we are now developing as a separate entity, our copy sales running average shows a 20% increase over last year."
He confidently predicts that the Sunday Morning Post is destined to become Asia's number one quality English- language Sunday newspaper.
Newspaper publishing will continue to be the group's core activity, and its fastest growing one, although other activities make substantial contributions to profits.
During 1985, Asher & Co., Asia's largest security printer, became a wholly owned Post subsidiary. "Asher prints betting tickets for the Royal Hong Kong Jockey Club, as well as cheque books, bank security documents and stationery. There is tremendous potential for Asher in the credit card business," says Mr Lennon.
Other group activities include a wholly owned film setting company, commercial printing, packaging and book distribution companies, a 51% holding in the influential Far Eastern Economic Review and 30% in Asia Magazine, the highest circulation consumer magazine in the Far East.
"Within the South China Morning Post, we believe we should concentrate on the activities where we have the knowledge and the expertise. So we will stay in communications and related businesses, where we can combine our experience with the most advanced publishing technology to produce a range of quality newspapers and magazines."
The company will have invested in new plant and equipment to the tune of HK$80 million by the end of 1986 and it intends to consolidate the South China Morning Post's position as the most highly regarded English-language newspaper in the region. "By the end of 1986, the South China Morning Post will be the most advanced in terms of process colour capability and high speed printing in Asia," says Mr Lennon.
Why is the South China Morning Post thriving while the newspaper industry elsewhere in the world is in such dire straits? "For almost a decade now the South China Morning Post has benefited from work practices scarcely possible elsewhere, the result of the excellent working relationships we have within the company. There are no artificial barriers to efficient newspaper production practices in Hong Kong. The success of the South China Morning Post is based primarily on that fact.”
TOM LENNON, MANAGING
DIRECTOR OF SOUTH
CHINA MORNING POST.
"We will stay in
communications and
related businesses,
where we can combine
our experience with
the most advanced
publishing technology
to produce a range of
quality newspapers and
magazines."
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HUTCHISON WHAMPOA LIMITED
I
South China Morning Post
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