- SingPost (SGX:S08)’s 3QFY26 revenue was 26.8% lower y-o-y at S$92.3m.
The good
- During the quarter, domestic e-commerce delivery volumes jumped 11.6% y-o-y amidst the seasonal peak period. Property leasing revenue also improved.
- - Read this at SGinvestors.io -
The bad
- On the other hand, the cross-border e-commerce business remained under pressure, with delivery volumes plummeting 58.9% y-o-y. The volume of domestic letter mail and printed papers also fell 23.4% y-o-y during the quarter, marking an acceleration from the 8.1% y-o-y decline in 1HFY26. The post office network continued to post an operating loss.
- - Read this at SGinvestors.io -
- Our readthrough from the analyst briefing is that while SingPost is not expecting a sharp, immediate decline in volumes as a direct result of the rate hike, this remains a tail risk given that key customers like financial institutions are also more digitally ready.
Operating profit came in 38.3% lower y-o-y
- Read more at SGinvestors.io.
