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SingPost’s logistics and letters segment saw domestic parcel volumes increase by 23.8 per cent year-on-year, helping to mitigate a 15.6 per cent decline in domestic letter mail volumes.<\/p>\n
The segment also continued a “multi-year transition towards an improved operating model” aimed at lowering costs, said the company. It added that disciplined cost management narrowed its operating loss to S$2.5 million.<\/p>\n
SingPost said that its digital postage stamps – introduced as the first of its kind in Asia – and the islandwide rollout of SingPost@MyBlock drop-off points have also improved customer convenience and access.<\/p>\n
In addition, its Post Office Network segment also lowered its operating loss by 42.9 per cent to S$3.3 million while revenue rose 80.8 per cent to S$10.4 million.<\/p>\n
The company attributed the segment’s growth to retail partnerships, commercial product sales, higher rental contributions and support for the Singtel Special Discounted Shares (SDS) transfer exercise, which allows shareholders to sell their shares at SingPost branches.<\/p>\n
SingPost is targeting a network of 30 post office branches and 50 self-service lobbies by the end of March 2027 to support long-term commercial viability.<\/span><\/p>\n It has also introduced retail partnerships across 11 branches since July and expects to grow this presence to 30 branches over the next six months.<\/p>\n Meanwhile, its property assets segment generated an operating profit of S$22.6 million on revenue of S$40.9 million, supported by full occupancy at SingPost Centre, the company said.<\/p>\n It added that blended rental rate reversions – the percentage increase or decrease in rental rates when existing leases are renewed or new leases are signed – at SingPost Centre reached 7 per cent.<\/p>\n SingPost is also planning a targeted asset refresh of the SingPost Centre retail mall, with an estimated capital expenditure of less than S$30 million, it said.<\/p>\n SingPost’s cash holdings stood at S$642.5 million as at Sep 30.<\/span><\/p>\n Its board declared an interim dividend of 0.15 Singapore cents per ordinary share for the first half of FY2026\/27.<\/span><\/p>\n “Looking ahead, SingPost expects the operating landscape to remain challenging amid structural declines in letter mail, cross-border headwinds, and macroeconomic uncertainty,” said SingPost.<\/p>\n “Nevertheless, SingPost continues to actively execute its strategy for sustainable growth – strengthening core fundamentals, building new scalable capabilities, and capturing growth opportunities.”<\/p>\n<\/div>\n
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