SingPost reports 13% fall in 2Q earnings to $25 mil on one-off fair value loss on warrants from associate

SINGAPORE (Nov 2): Singapore Post reported 2Q19 earnings ended Sept of $25.1 million, down 12.9% from a year ago, due largely to an exceptional fair value loss os $2.9 million on warrants from an associated company.

Excluding such one-off items, underlying net profit was stable at $28.1 million, as operating profit improved 33.5% to $40 million but was offset by share of loss of associates of $3.6 million.

Revenue for 2Q19 increased 2.2% to $368.7 million, on stronger contributions from international mail and property.

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