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Breaking News: Bermuda Press Holdings profit plunges

Bermuda Press (Holdings) Ltd. (BPH) yesterday reported a profit of $63,000 for the year through September 2009 — a 96 percent fall from the prior year’s earnings of $1.78 million.

The owner of The Royal Gazette and a portfolio of other local businesses and real estate, suffered significant operating losses in its printing and publishing divisions, while its real estate segment made operating income of more than $3 million.

BPH also announced it had agreed to buy a “significant minority holding” in online community marketplace provider E-Moo Ltd. and E-Moo (Bermuda) Ltd.

See the full story in tomorrow’s Royal Gazette business section.