- SingPost provided a business update for 3QFY25 – Group revenue for the quarter grew 12.1% y-o-y to S$510.6m. However, this was outpaced by group operating expenses, which increased 14.1% y-o-y to S$490.4m on the back of higher inflation and supply chain disruptions.
- - Read this at SGinvestors.io -
- Altogether, SingPost's 9MFY25 revenue and operating profit came in at 74.7% and 66.6% of our initial full year forecast, respectively, which we deem to have missed our expectations.
The Singapore & International businesses continued to be a drag during the period…
- Revenue from logistics, financial, and other services saw a y-o-y decline despite a 3.4% y-o-y rise in overall delivery volumes in the Singapore postal and logistics business; together with the high cost of operating the post office network, the business slipped back into an operating loss, as compared to an operating profit in 3QFY24.
- - Read this at SGinvestors.io -
- SingPost expects the International cross-border business to remain challenged amidst competitive pressures and an evolving regulatory landscape, particularly with the removal of the “de minimis” exemption.
- Management continues to work on ensuring SingPost’s competitiveness, but does not rule out potentially refocusing on nearby markets like Asia in the near to medium term.
… offset by the Australia business & property leasing.
- Read more at SGinvestors.io.
