- Despite strong revenue growth in 1HFY23 (Apr to Sep 2022) to S$959m (+31% y-o-y), SingPost (SGX:S08) reported a net loss of S$10m. Excluding exceptional items, SingPost's core EBIT fell 19% y-o-y to S$42m in 1HFY23, while core net profit fell 65% y-o-y to S$13m, making up 21%/25% of our/Bloomberg consensus’ FY23F. We deem the results as broadly in line, as we expect a better 2HFY23F.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
ONG Khang Chuen CFA CGS-CIMB Research | https://www.cgs-cimb.com 2022-11-03
Read also CGS-CIMB's most recent report:
2023-11-03 Singapore Post - Earnings At An Inflection Point.
Previous report by CGS-CIMB:
2023-09-18 Singapore Post - What’s Next?.
Price targets by 2 other brokers at SingPost Target Prices.
Listing of research reports at SingPost Analyst Reports.
Relevant links:
SingPost Share Price History,
SingPost Announcements,
SingPost Dividends & Corporate Actions,
SingPost News Articles
