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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