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Thursday, August 2, 2018

SingPost

l SINGAPORE, 3 August 2018  – Singapore Post Limited (“SingPost”) today announced its results for the quarter ended 30 June  2018.

Revenue for the quarter  increased 3.3 per cent  to  S$372.6  million, as  international  mail and last-mile deliveries grew, driven by eCommerce, and property rental income rose.

Net profit attributable to equity holders declined  40.4 per cent to S$18.7  million, due mainly to an exceptional fair  value loss  on warrants from an associated  company, reflecting changes  in  the market  value of the  financial  instrument, and higher  tax. Excluding one-off items, operating profit  rose 1.2 per  cent to S$39.2 million. Underlying net  profit was down 9.8 per cent  to  S$24.7 million, as the  improved operating profit  before exceptional  items was offset by lower contributions from associates investing for growth and increased tax.

 SingPost reports first quarter net profit of S$18.7 million

•  Net profit impacted by  exceptional items arising from changes to fair value of associated company  warrants, and higher tax

•  For the first quarter ended 30 June 2018, revenue increased 3.3 per cent to S$372.6 million on growth  in international mail and last-mile deliveries, driven by eCommerce, as  well as  rental income

•  Interim dividend of 0.5 cent per share declared

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