Tag: SingPost

Singapore Post 1Q Net Profit Up 10.5%

Posted by | Aug 3, 2004 | |

Singapore Post Ltd. Monday reported a 10.5% rise in first quarter net profit to SD26.1 million, as revenue from its mail services remained steady amid a reduction in taxes and costs. Revenue for the three months ended June 30 came to SD89.4 million, a slight 0.5% decline from SD89.01 million a year earlier. Singapore’s dominant postal operator said it managed to reduce finance costs by swapping fixed interest rates on its bond issue for floating rates. It also paid less in taxes after the government reduced the corporate tax rate to 20% from 22% in the previous financial year.

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SingPost says UK commission revision won’t have big impact on earnings

Posted by | Jul 5, 2004 | |

Singapore Post says the revised commission structures, business reorganization and one-time restructuring cost at a European joint venture are not likely to have a significant impact on SingPost’s overall performance for the current financial year. Previously, SingPost had expected restructuring of the joint venture, called Spring, to cut net profit for this financial year by as much as SD6.5 million. The losses would have largely come from the gradual write-down of its initial start-up cost. But SingPost now says it plans to adopt a new rule proposed by Singapore’s accounting authorities which does not require goodwill to be gradually written down.

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SingPost ready to enter financial sector

Posted by | Apr 13, 2004 | |

Analysts appear hesitant to rerate Singapore Post Ltd.’s stock, considering the postal company’s plan to roll out financial services starting in June. SingPost, which is 31per cent-owned by Singapore Telecommunications Ltd., also faces long-term uncertainty amid government plans to liberalise the postal sector in 2007.

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Singapore's IDA rejects SingPost's postal rate hike proposal

Posted by | Jun 6, 2003 | |

The InfoComm Development Authority said it has rejected the proposal of Singapore Telecommunications Ltd unit Singapore Post to raise domestic postage rates for mail weighing 20 and 40 grams.

“This decision was arrived at after a detailed review of SingPost’s proposal and an audit of SingPost’s figures,” IDA said.

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SingPost full year net proftis up 7.2

Posted by | May 19, 2003 | |

Newly-listed Singapore Post has posted a 7.2 percent rise in full-year net profit to S$108.7 million and said it expects the business outlook to remain steady, although SARS and the weak economy could cause companies to curb promotional activity. The rise came despite a 2.1 percent fall in operating revenue to S$373 million for the year to March.

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