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SingPost 1H16 Net Profits Soars 26.9%
Daily Bulletin | 03 November 2015
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Singapore Post (SingPost) announced a 26.9 percent increase in 1H16 net profit to $100 million, from the net profit of $78.8 in 1H15 mainly attributed to an increase in revenue received.

Total revenue expanded 20.1 percent to $517.8 million with continued growth in Logistics and Retail & eCommerce and the inclusion of subsidiaries. Excluding the impact of acquisitions and divestment of subsidiaries, revenue remains stable.

Mail revenue was negatively impacted by the divestments of Novation Solutions and DataPost in 1Q16 and 2Q16 respectively. Excluding the impact of the divestments, Mail revenue remained stable compared to the same period last year. The postage revision in October 2014 helped to offset the impact of declining traditional letter mail volumes.

However the one-off gains from the divestment of Novation Solutions ($8.4 million) and DataPost ($24.9 million) contributed to the operating profits of the group, which saw a 24.4 percent increase to $122.2 million, and coupled with share of profit of associated companies and joint ventures growing 89.6 percent due to earnings growth from 4PX Express, Indo Trans Logistics and GD Express, net profitability was boosted significantly.

Singapore Post  1.120 +0.010 +0.90%   
Business: [FY18 Turnover] Logistics (42.7%), postal (40.2%), eCommerce (17.1%).

Insight: Aug-18, 1Q19 revenue rose 3.3% to $372.6m mainly d... Read More

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