SINGAPORE (May 11): Although SingPost managed to swing back into the black for 4QFY2019/20, analysts remain ambivalent on the next quarter ahead as the group grapples with Covid-19 challenges. 

DBS Group Research is now projecting a 19-20% drop in the group’s earnings for FY2021-22F compared to a growth of 3% earlier. Meanwhile, CGS-CIMB Research has cut its FY2021-22F earnings per share (EPS) by 6.6-6.7%. 

To recap, the group had booked earnings of $7.2 million for 4Q, a reversal from losses of $75.1 million last year. This, in turn, lifted its full-year earnings to $91.1 million, nearly quadruple that of earnings of $19.0 million last year.

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