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Singapore Post ( (SG:S08) ) just unveiled an announcement.
Singapore Post reported third-quarter revenue of S$92.3 million and operating profit of S$3.8 million, as growth in domestic eCommerce deliveries and improved property leasing income were more than offset by continued declines in letter mail and cross-border eCommerce volumes. Despite a 26.8% year-on-year drop in revenue, the company preserved profitability through a 26.2% reduction in operating expenses, aided by lower volume-related costs and labour savings after divesting its Australia operations.
Domestic eCommerce volumes rose 11.6% year-on-year during the seasonal peak, reaching their highest monthly level in two years as Singapore Post continued to prioritise market share gains in its home market. The results underscore a strategic shift toward higher-growth eCommerce logistics and property earnings, while legacy mail and cross-border businesses remain a drag on topline performance but are being mitigated by disciplined cost management.
The most recent analyst rating on (SG:S08) stock is a Hold with a S$0.50 price target. To see the full list of analyst forecasts on Singapore Post stock, see the SG:S08 Stock Forecast page.
More about Singapore Post
Singapore Post is a postal and logistics provider focused on domestic eCommerce parcel delivery, traditional letter mail and cross-border eCommerce services, complemented by a property leasing business. The group is reshaping its cost base and operating scale following the sale of its Australia business, while seeking to grow market share in domestic eCommerce logistics.
Average Trading Volume: 5,148,981
Technical Sentiment Signal: Sell
Current Market Cap: S$877.3M
See more insights into S08 stock on TipRanks’ Stock Analysis page.