Singapore Post - OCBC Research 2026-05-14: Doubling Down

• SingPost (SGX:S08) reported a 23.1% and 68.9% decline in FY26 (financial year ended 31 Mar 2026) revenue and operating profit to S$376.1m and S$11.8m, respectively. The decline was led by the Logistics & Letters segment, which made an operating loss of S$6.1m (versus FY25 operating profit of S$35.8m).

FY26 underlying net profit fell 57.0% to S$10.7m with cross-border volumes remaining under pressure.

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• Meanwhile, after streamlining its Post Office Network, operating loss for the segment narrowed from S$14.7m in FY25 to S$10.7m in FY26.

• Finally, the Property Assets posted stable performance, with operating profit up 0.5% to S$45.2m. Occupancy at SingPost Centre (SPC) improved 0.5 percentage points (ppt) q-o-q to 99.4% as at 31 Mar 2026 (Retail: 100%; Office: 99.1%).

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Final dividend of 0.06 cents and supplemental dividend of 0.41 cents proposed.

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

Previous report by OCBC:
2026-02-25 Singapore Post - Letter Mail And Cross-border Volumes Remain Under Pressure.

Price targets by 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