SingPost revenues up

Singapore Post (SingPost) has reported a revenue of S$354.7m for the second quarter ended 30 September, which was 10.2% up on last year.

The net profit attributable to equity holders decreased 9.5% to S$28.5m, But with exceptional items excluded, the underlying net profit rose 1.9% to S$27.6m.

In a statement issued today (14), Paul Coutts, Group Chief Executive Officer, commented: “Our transformation into a leader in postal and eCommerce logistics is moving ahead. The full benefits of our transformation may not be immediate, however we are investing for the long term. As we move into the next phase of our transformation, four themes will guide our focus: Winning in our home market, igniting our future growth engines in Southeast Asia and beyond, extracting full value from our investments, and driving towards cost leadership. The key to realising these opportunities is execution.”