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USPS has released revenue figures for the second quarter of 2018, which revealed the postal operator's shipping and packages revenue grew by US$445m or 9.5% (read more here). But how many more parcels did the operator handle between January 1 and March 31, 2018?

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SingPost net profit increases by nearly 280% for FY 2017-18

Singapore Post (SingPost) has reported revenue growth of 8.6%, with sales of S$1.46bn (US$1bn) for the financial year ending March 31, 2018.

The increase has been attributed to growth in e-commerce-related activities across the postal and logistics segments.

Net profit rose 278% to S$126m (US$94m), largely due to the absence of one-off impairment charges. Excluding exceptional items, underlying net profit declined 9.2% to S$105m (US$79m). While the e-commerce and property segments saw improved performance, logistics and postal operating profits fell.

For the fourth quarter, revenue grew 13.5% to S$367.5m (US$276m) and net profit improved to S$23.9m (US$18m) from a loss of S$65.2m (US$49m), which reflected impairment charges in exceptional items.

Operating profit, excluding exceptional items, improved 18%. Lower contributions from associates and increased tax provision however resulted in underlying net profit for the quarter declining 28.6% to S$15.3m (US$12m).

Paul Coutts, group CEO, SingPost, said, “The company is well positioned to benefit from the strong growth in global e-commerce and last-mile deliveries as we progress to the next phase of our strategy.

“We continue to execute on our transformation and build on our partnership with Alibaba in e-commerce. We are integrating and scaling our e-commerce businesses in the USA and Southeast Asia, as well as the rest of our overseas operations, and optimizing the cost structure of the SingPost Group.”

May 14, 2018

Written by Daniel Symonds


Video Exclusives


Starship drones deployed at Intuit campus in California

Autonomous drone developer Starship Technologies has completed the installation of delivery robots at a work campus for US financial software company Intuit in California.

01 May, 2018

Tompkins launches autonomous robotic sorting system

Technology developer Tompkins Robotics has partnered with IT provider Lab Z to launch its t-Sort portable, automated sortation system. The new solution uses a network of automated drones fitted with tilt trays to harmoniously sort parcels and packets into dedicated containers.

30 January, 2018

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