SingPost reports 40.4% lower 1Q earnings on fair value loss & higher taxes; declares 0.5 cent dividend
Michelle ZhuPublished on Fri, Aug 03, 2018 / 10:53 AM GMT+8
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SINGAPORE (Aug 3): Singapore Post (SingPost) reported 1Q FY18/19 earnings of $18.7 million, down 40.4% from $31.4 million a year ago due to an exceptional fair value loss on warrants from an associated company as well as higher tax expenses.
Revenue for the quarter grew 3.3% to $372.3 million from the restated 1Q FY17/18 revenue of $360.5 million, driven mainly by a 67.1 % increase in operating profit under the Property segment due to rental income from the SingPost Centre retail mall as committed occupancy improved.
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