Tag: Singapore Post

Singapore Post’s core business stayed resilient despite the tough economic conditions it faced in its financial year ended March 31. This resulted in operating revenue dipping a marginal 1.3 per cent to USD368.2 million and net profit falling just 4 per cent to USD104.3 million.

Singapore Post said its year to March 2004 net profit fell 4 pct to 104.29 mln sgd as its core mailing business stabilised in the last three quarters after being hit by SARS and the Iraq war in the first quarter to June.

‘We are pleased that the performance of our core business remained stable this financial year, despite the tough economic conditions,’ SingPost CEO William Tan Soo Hock said.

Singapore Post Ltd. have said their full-year net profit fell slightly, hurt by poor economic conditions at the start of the financial year.

The postal services company reported net profit of SD104.3 million for the year ended March, down 4percent from SD108.7 million the previous year.