Singapore Post - OCBC Investment 2024-05-10: All Things In Balance

Singapore Post - All Things In Balance

Published:
SingPost (SGX:S08) | SGinvestors.ioSingPost (SGX:S08)
  • Singapore Post (SingPost, SGX:S08)’s 2HFY24 revenue fell 5.9% y-o-y ( y-o-y) to S$859.5m, dragged by the freight forwarding and IPP businesses – Operating expenses, however, fell by a greater margin, which allowed the company to eke out a 3.3% y-o-y increase in operating profit to S$53.5m.
  • - Read this at SGinvestors.io -

FY24 revenue & operating profit declined 9.9% & 8.8% y-o-y

  • On a full year basis, revenue and operating profit declined 9.9% and 8.8% y-o-y to S$1.7b and S$84.9m, respectively. The decline was also partially due to FX headwinds, with estimated full year currency impact at S$73m and S$14m to the revenue and operating profit levels, respectively.
  • Meanwhile, PAT and UNP were up by 110% and 28.1% to S$81.5m and S$41.5m, respectively. FY24 group revenue came in at ~96% of our full year forecast.

28% increase in dividend per share

  • - Read this at SGinvestors.io -

Logistics segment was the largest detractor, weighed down by the freight forwarding business.

  • Read more at SGinvestors.io.



Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.



Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-05-10



Read also OCBC's most recent report:
2025-05-15 Singapore Post - Sharpening Focus On Core Business.

Previous report by OCBC:
2025-05-05 Singapore Post - Focus On Fundamentals.

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 Dividend Payout Dates & Corporate Actions,
SingPost News






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