- Due to a secular decline in postal volumes and increased operating costs, SingPost is set to increase postal rate rates by 64.5% starting Oct 23.
- We reckon that the domestic postal & parcel segment is set to bottom out in 1HFY24 and recover close to breakeven for FY24. However, we do expect postal volumes to continue falling as more mail users switch to online alternatives.
- - Read this at SGinvestors.io -
Long-awaited postage rate hike.
- To combat rising operating costs and declining domestic letter & mail volumes, Singapore Post (SingPost, SGX:S08) announced changes to its domestic postage rates with the rate for standard regular mail increasing by 64.5%/20 cents to 51 cents starting 9 Oct 23 (early-3QFY24).
- - Read this at SGinvestors.io -
- SingPost noted that the group continues to work with IMDA to conduct a structural review of the postal business and formulate a longer-term strategy.
Return to profitability.
- Read more at SGinvestors.io.
