- SingPost (SGX:S08)’s 1HFY25 (financial year ending 31 Mar 2025) bottom line disappointed on higher-than-expected finance expenses.
- Group revenue grew 20% y-o-y to S$992.4m, accounting for 49.4% of our initial full year forecast. Meanwhile, group operating expenses rose at a slower 18.3% to S$943.4m. As a result, operating profit expanded 62.9% y-o-y to S$51.2m.
Net profit fell short on higher-than-expected finance expenses
- - Read this at SGinvestors.io -
- Management shared that this was driven by AUD-denominated debt (related to its acquisitions in Australia), where interest rates are north of 5%.
- - Read this at SGinvestors.io -
Australia business remained resilient.
- 1HFY25 revenue and operating profit from the Australia business grew 44.1% and 30.2% y-o-y to S$574.9m and S$30.4m, respectively, mainly driven by the consolidation of Border Express (BEX) following its acquisition in Mar 2024.
Continued headwinds in the International & Singapore businesses
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-11-06
Read also OCBC's most recent report:
2024-12-02 Singapore Post - Proposed Divestment Of Australia Business.
Price targets by 3 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
