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SingPost’s 2Q earnings fall 41% fall to $31 mil; declares 1 cent dividend with revised policy

PC Lee
PC Lee11/4/2016 06:50 PM GMT+08  • 1 min read
SingPost’s 2Q earnings fall 41% fall to $31 mil; declares 1 cent dividend with revised policy
SINGAPORE (Nov 4): Singapore Post reported a 41.2% fall in 2Q earnings to $31.4 million from a year ago due to the absence of one-off divestment gains which boosted the bottomline a year ago.
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SINGAPORE (Nov 4): Singapore Post reported a 41.2% fall in 2Q earnings to $31.4 million from a year ago due to the absence of one-off divestment gains which boosted the bottomline a year ago.

Revenue rose 22.3% to $321.7 million, thanks to contributions from new subsidiaries. Revenue from postal services and logistics was relatively stable at $127 million and $154 million.

Group operating profit fell 40.9% to $38.1 million as operating profit for its postal division fell 10.6% to $22.3 million and operating profit for its logistics division fell 35.6% to $4.9 million. Losses from its e-commerce tripled to $6.8 million.

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