BREAKING:

Singapore Post Limited delivered its half-year results, reflecting a successful streamlining of its business and a return to a positive underlying net profit. The company focused on disciplined capital management and prudent cost control to navigate persistent weakness in the global logistics and eCommerce sectors. Management is committed to strengthening core businesses and investing in infrastructure to enhance service levels and expand processing capacity for future growth.

• The company has created a leaner, more focused corporate profile through significant divestments, including the unwinding of key international business cross-holdings

• Despite overall financial stability, the Logistics & Letters segment recorded an operating loss primarily due to a challenging market environment and reduced cross-border delivery volumes

• Stable contributions and increased rental income from the Property Assets segment, particularly SingPost Centre, helped offset the softer performance elsewhere

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BREAKING: 

Singapore Post Limited announced a substantial net profit for the full year, significantly boosted by an exceptional gain from the divestment of its Australia business. However, excluding this gain, underlying net profit experienced a notable decrease, culminating in an underlying net loss in the second half. A special dividend is being proposed, funded by the sale proceeds, as the company navigates challenging conditions in the global logistics sector.

• A major transaction had a significant positive impact on the reported results
• The underlying performance of the core business faced challenges, particularly during the latter part of the year
• Shareholders are expected to receive a special payout, and the Group is reviewing its future strategy

There will be an AGM on

Event dates:

For more information, click here: SINGAPORE POST LIMITED 2023 AGM