Singapore Post is up 1.1% to $1.925 as at 11:11 a.m. after announcing record first quarter earnings and revenue this morning.
For the 1Q ended June, the postal service provider booked earnings of $46.6 million from a year ago.
Revenue rose 20.7% to hit $254.6 million.
The result was boosted by one-off gains from divestments and strong growth in its e-commerce and logistics business.
Mail revenue increased 1.6% to $125.1 million, with the increase in postal rates starting last October helping to offset the decline in mail volumes.
SingPost says it expects to record an estimated gain of more than $30 million from the divestment of Novation Solutions and Datapost (HK), as well as DataPost.
Revenue from logistics, which also includes SingPost’s eCommerce logistics business operations, rose 43.6% to $140.1 million.
Revenue from its retail and e-commerce business rose 5.6%, as vPost service and the front-end Web solutions business helped to offset the decline in revenue from financial services and retail agencies.
SingPost has declared an interim quarterly dividend of 1.5 cents per share.
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For the 1Q ended June, the postal service provider booked earnings of $46.6 million from a year ago.
Revenue rose 20.7% to hit $254.6 million.
The result was boosted by one-off gains from divestments and strong growth in its e-commerce and logistics business.
Mail revenue increased 1.6% to $125.1 million, with the increase in postal rates starting last October helping to offset the decline in mail volumes.
SingPost says it expects to record an estimated gain of more than $30 million from the divestment of Novation Solutions and Datapost (HK), as well as DataPost.
Revenue from logistics, which also includes SingPost’s eCommerce logistics business operations, rose 43.6% to $140.1 million.
Revenue from its retail and e-commerce business rose 5.6%, as vPost service and the front-end Web solutions business helped to offset the decline in revenue from financial services and retail agencies.
SingPost has declared an interim quarterly dividend of 1.5 cents per share.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at :
info@epicresearch.sg
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