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.”

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About The Author

Ian Taylor

Ian Taylor is the Editor of Triangle’s Mail & Express Review Magazine and the www.postandparcel.info 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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