Singapore Post - UOB Kay Hian 2024-11-07: 1HFY25 Results Miss Despite Strong Growth

• Singapore Post (SingPost) reported strong 1HFY25 results whereby overall revenue (+20.0% y-o-y), operating profit (+62.9% y-o-y) and core PATMI (+87.6% y-o-y) grew, forming 50%/41%/35% of our full-year forecasts.

A miss despite strong growth.

• - Read this at SGinvestors.io -
• The higher interest costs were largely due to increased borrowings from the FMH stake and Border Express (BEX) acquisitions. Assuming stable y-o-y interest costs, SingPost's 1HFY25 PATMI would have formed around 45% our full-year forecast and in line with our expectation.

Higher dividend.

• - Read this at SGinvestors.io -

Singapore (Postal): Strong growth.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-05-16 SingPost FY25 - Underwhelming Results, Declares Special Dividend.

Previous report by UOB:
2025-03-10 Singapore Post - Soft 9MFY25 Results As Rising Costs Hurt Margins.

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