Singapore Post doubles underlying profit as operating gains offset mail slump

what happened

Singapore Post reported first-half revenue down 1.3% year on year. Operating profit rose 42.3%, and underlying net profit climbed 107.5%. Reported profit included a 44.4 million US dollar exceptional gain, mostly tied to the sale and leaseback of ten properties. According to TradingView, better performance across segments narrowed losses.

A second TradingView report puts underlying net profit at more than double, reaching S$11.5 million, while profit attributable to shareholders hit S$55.9 million on exceptional property gains. Growth in parcels and improvements in the Post Office network partly offset falling mail volumes and weakness in international business.

why it matters

The key question for investors is how sustainable the growth is without one-off items. Underlying figures improved noticeably, but the decline in traditional mail remains structural and revenue is still shrinking. Asset sales deliver a one-time boost, so the market will likely judge future performance on operating results.

market impact

Singapore Post shares: one-off property gains lift reported profit, while mail decline weighs on the core business

• ↔Singapore Post shares mixed — rising underlying profit supports the stock, but one-off gains and mail decline pull in opposite directions

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