SingPost’s revenues up, but profits down

SingPost’s revenues up, but profits down

Singapore Post (SingPost) has reported that its revenue for the first quarter (Q1) was 3.3% up to S$372.6m, but its profit dropped more than 40%.

The revenue increase was supported by continuing growth in international mail and e-commerce-driven last mile deliveries, but the profit was impacted by the “ongoing integration efforts of the US businesses”.

In a statement issued today (3 August), Paul Coutts, Group Chief Executive Officer, said: “As strong growth in global eCommerce drives cross-border and last-mile deliveries, we are focused on executing well to keep up our operational momentum as we transform SingPost for the future.”


About The Author

Ian Taylor

Ian Taylor is the Editor of Triangle’s Mail & Express Review Magazine and the portal. Ian has been a business journalist for almost 30 years, editing and writing for a wide range of magazines and newspapers with a particular focus on the transport and logistics industries.

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