Home Capital Broker's Calls

Can ecommerce logistics hub, SPC mall save SingPost?

Jude Chan
Jude Chan5/17/2017 12:3 PM GMT+08  • 2 min read
Can ecommerce logistics hub, SPC mall save SingPost?
SINGAPORE (May 17): DBS Group Research says beleaguered Singapore Post (SingPost) will have to turn to its ecommerce logistics hub and Singapore Post Centre mall to drive earnings growth amid a challenging outlook for its ecommerce and logistics businesse
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 17): DBS Group Research says beleaguered Singapore Post (SingPost) will have to turn to its ecommerce logistics hub and Singapore Post Centre mall to drive earnings growth amid a challenging outlook for its ecommerce and logistics businesses.

“Apart from declines in high-margin domestic mail volumes, the underperformance in the quarter was also due to challenges in its logistics and freight businesses which led to weaker margins, and wider operating losses from TradeGlobal,” says DBS lead analyst Sachin Mittal.

On top of booking huge impairment write-offs amounting to $208.6 million, SingPost saw underlying net profit fall 24.7% y-o-y and 32.8% q-o-q in 4Q17 to $21.4 million.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.