SINGAPORE: Singapore Post’s net profit for the first half of its financial year fell by 17.1 per cent year-on-year to S$18.4 million (US$14.1 million), said the company on Monday (Nov 10).
Announcing its unaudited results for the half year ending on Sep 30, SingPost said: “The decline was largely due to contributions from the divested Australia business in the prior period, which offset the exceptional gains in H1 FY25/26.”
Revenue fell 27.4 per cent to S$188.4 million, which the company said was a reflection of “the challenging operating environment for the logistics business, particularly in cross-border ecommerce delivery volumes”.
The company said its efforts to streamline its operations post-divestment and cost discipline were reflected in lower operating expenses, which fell 25.5 per cent year-on-year to S$182.4 million.
