Singapore Post has announced its financial results for the second quarter and half year ended 30 September 2007 reporting growth in profit and revenues.
The Group posted an 8.8pct growth in revenue from SGD106.6 million to SGD116.0 million in Q2 FY 2007/08, on the back of improved performances by the three business segments.
– Mail revenue grew 8.5pct from SGD82.2 million to SGD89.2 million, boosted by higher postings and price adjustments. Total mail volume rose by 9.9pct, underpinned by a 15.1pct growth in the direct mail segment. During the quarter, a new service, DMrocket, was launched to further grow the direct mail business. DMrocket is a specialist direct mail centre that offers one-stop direct mail solutions to meet customers’ needs.
– Logistics revenue rose 11.5pct from SGD15.8 million to SGD17.6 million, as a result of
increased contributions from Speedpost and warehousing, fulfillment and distribution.
– A new concept store within post offices, Speedpost Centre, was launched in the second
quarter, to offer complete delivery solutions to both corporate and retail customers.
– Retail revenue increased 9.0pct from SGD14.0 million to SGD15.3 million, as growth in financial services and vPOST on-line shopping transactions offset the decline in agency services. vPOST Asia was further rolled out into the region, with the service being offered in India and Australia, in addition to Thailand and Malaysia
1 Singapore Dollar (SGD) = 0.69003 US Dollar (USD)
