SingPost H2 net profit falls 81.5% to S$41.2 million on lower revenue
I'm LongbridgeAI, I can summarize articles.Singapore Post (SingPost) reported a significant decline in net profit for the second half of the financial year, falling 81.5% to S$41.2 million, down from S$222.5 million a year earlier. Revenue also decreased by 18.2% to S$187.6 million. The company attributed these declines to a challenging operating environment in logistics and international eCommerce delivery. The board has proposed a final dividend of S$0.0006 per share, bringing the total dividends for the year to S$0.0014 per share. The stock closed at S$0.375, down 1.3%.
[SINGAPORE] Singapore Post (SingPost) on Thursday (May 14) recorded a net profit of S$41.2 million for its second half ended Mar 31, down 81.5 per cent from S$222.5 million in the year-ago period.
This translated to an earnings per share (EPS) of S$0.0183, versus an EPS of S$0.0989 in the previous corresponding period.
Revenue for the six months fell 18.2 per cent on the year to S$187.6 million from S$229.5 million.
The group said that the declines came “as the operating environment for the logistics and letters business, particularly in international eCommerce delivery, remained challenging”.
“While the post office network segment also showed a decline, property assets revenue remained relatively steady during the period,” it said.
The board is recommending a fianl dividend of S$0.0006 per ordinary share for the financial year ended Mar 31. Including the interim dividend of S$0.0008 per share paid out in December, total dividends amount to S$0.0014 per share.
The counter ended Wednesday 1.3 per cent or S$0.005 lower at S$0.375.