Tag: Asia

SINGAPORE Post yesterday reported a 5 per cent rise in net earnings to $30.9 million, on turnover of $105.1 million, for the three months ended June 30, 2006.

During the quarter, mail revenue grew 5.4 per cent to $82.4 million, due to improved performances by all business lines, namely, domestic mail, international mail, hybrid mail and philatelic. Thank to higher contributions from Speedpost, warehousing, fulfilment and distribution, logistics revenue rose 11 per cent to $15 million from $13.5 million previously.

Singapore Post has reported a 5% gain in first quarter profit to S$31 million (€15.5 million) compared to a year ago, mainly due to higher sales at its core businesses. Revenue rose 8.5% to S$105 million (€52.5 million).

Going forward, SingPost says it is well positioned to handle the loss of its monopoly of basic mail services by 2007. SingPost’s exclusive licence for basic mail services expires at the end of March next year. The mail services provider says it will continue to drive growth in its core businesses. Various strategies for growth have been identified.

SingPost says it will focus on rolling out higher value products and services to its customers. At the same time, it will extend its regional reach by tying up with key partners in the region for online shopping, through its internet portal.