Singapore Post's Operating Profit Declines 60% in Fiscal Q1

MT Newswires

08/22

Singapore Post's (SGX:S08) operating profit for the first quarter ended June 30 declined by 60% to SG$3.4 million from SG$8.4 million a year earlier, according to a Friday filing with the Singapore Exchange.

Revenue, meanwhile, dropped 24% year over year to SG$162.2 million from SG$213.0 million, mainly due to a decline in international deliveries.

Domestic delivery and international delivery declined 10% and 59%, respectively, during the period.

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