SingPost sees Q3 net profit slip 0.2 per cent to $39.4 million
Singapore Post third-quarter net profit slipped 0.2 per cent to $39.4 million, a flat performance due to continued investments into transforming the business.
The postal firm has been working on turning itself into a fully fledged e-commerce firm.
Revenue surged 30.2 per cent to $222.6 million for the three months to Dec 31, due to acquisitions' contributions and growth in e-commerce related activities.
SingPost's mail business grew 12.8 per cent to $133.2 million for the quarter, as e-commerce packages volumes continue to grow, raising domestic and international mail revenue.