Singapore Post Says Mail Volumes Getting Better
Singapore Post Ltd, the listed postal services arm of Singapore Telecommunications Ltd, said that mail volumes have improved but declined to comment on earnings.
“Mail volumes are better compared to March, April and May as more planes are flying,” SingPost Chief Executive William Tan Soo Hock said without giving specific details.
Some airlines cut flights by up to half during the SARS outbreak in April and May when individuals and businesses cut back on unnecessary travel to SARS-affected areas.
Tan, however, declined to comment on whether the improved mail volumes implied better earnings for the company’s second quarter to June.
For the full year to March 2003, SingPost’s net profit rose 7.3% to S$108.7 million, and for its first quarter to June, net profit fell 11.6% on year to S$23.7 million.
Separately, Tan said SingPost was exploring new business opportunities.
The company has just agreed with Malaysian budget airline AirAsia Sdn. to sell the latter’s air tickets through post offices with immediate effect.
Under the facility, payments for ticket bookings can be made at any of SingPost’s 62 post offices while walk-in bookings and purchases can be made at its post offices in Killiney Road, Clementi Central, Woodlands Central, Singapore Post Centre and Tampines Central.
