SingPost releases performance figures for first half of FY2015/16

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Singapore Post (SingPost) has released the company’s financial results for the first half of the financial year (FY) 2015/16, ending September 30, 2015.

The post’s continuing expansion in e-commerce and logistics activities, and contributions from the group’s new subsidiaries, raised SingPost’s revenue in the first half of FY2015/16 by 20.1% to S$517.8m (US$370m).

Operating profit was up 24.4% at S$122.2m (US$87m) due to steady operating performance in mail and logistics combined with one-off gains from divestments. SingPost’s net profit for FY2015/16 was S$100m (US$71.4m), an increase of 26.9%. Underlying net profit rose 1.4% to S$77.8m (US$55.6m).

E-commerce-related revenue now provides 29% of the group’s revenue due to strong growth in the sector. New subsidiaries such as Quantium Solutions helped to grow revenue from logistics operations by 43.5% to S$296.1m (US$211.6m).

Mail revenue declined 2% to S$241.7m (US$172.7m) as the group’s hybrid mail offering ceased with the divestment of Novation Solutions and DataPost. Operating profit rose 6.7% as the group continued to focus on productivity and efficiency of its mail operations, particularly with investments in mail infrastructure.

Dr Wolfgang Baier, group CEO for SingPost, said, “We emerge with a more stable and stronger foundation to our business since the start of our accelerated transformation. It is now showing in the numbers. Group revenue and total profit grew about 20% and 27% respectively. E-commerce logistics continue to deliver strong revenue growth and e-commerce related revenue is now 29% of group revenue. While overseas revenue grew to 39.5%.”

November 3, 2015

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Helen has worked for UKi Media & Events for nearly a decade. She joined the company as assistant editor on Passenger Terminal World and since progressed to become editor of five publications, covering everything from aviation, logistics and e-commerce to meteorology. She has a love for travel and property and has redeveloped three houses in three years. When she’s not editing magazines, she’s running around after her two boys and their partner in crime, Pete the pug.

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