Singapore Post Limited posts S$3.8 million operating profit in Q3

Singapore Post Limited (SingPost) reported revenue of S$92.3 million for the third quarter ended 31 December 2025, down 26.8% year-on-year, as continued declines in letter mail and cross-border E-Commerce volumes outweighed growth in its domestic E-Commerce and property leasing businesses.

Despite the revenue contraction, SingPost remained profitable, delivering an operating profit of S$3.8 million for the quarter, compared with S$6.2 million in the same period last year. Operating margin improved to 4.1%, up from 3.3% in the preceding quarter, reflecting tighter cost controls.

Operating expenses fell 26.2% year-on-year to S$88.5 million, driven largely by lower volume-related costs in the cross-border E-Commerce segment. Labour expenses were also reduced following the realignment of the cost base after the sale of the Australia business at the start of the financial year.

The domestic E-Commerce business performed well during the seasonal peak period, with volume rising 11.6% YoY, the highest monthly volume in the last 2 years, as the Company continued to focus on capturing market share.

However, challenges persisted in the cross-border E-Commerce and letter mail segments. Cross-border E-Commerce delivery volumes declined sharply by 58.9% year-on-year amid difficult market conditions, continuing a trend seen in recent quarters. Letter mail and printed papers volumes also continued their structural decline, with domestic volumes falling 23.4% year-on-year in the third quarter, steeper than the 8.1% decline recorded in the first half of the financial year.

The Post Office Network recorded lower revenue for the quarter due to reduced contributions from agency services and continued to post an operating loss.

SingPost said it maintained profitability during the quarter through disciplined operational management, even as it navigated ongoing headwinds across several of its core businesses.