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SingPost Q2 profit up 5.5%, declares dividend of 1.25 S'pore cts/share

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Singapore Post on Thursday posted a 5.5 per cent rise in net profit to S$37.6 million for the fiscal second quarter ended Sept 30, 2014.

SINGAPORE Post on Thursday posted a 5.5 per cent rise in net profit to S$37.6 million for the fiscal second quarter ended Sept 30, 2014.

The group said revenue rose 8.1 per cent year on year to S$220.34 million on the back of continued growth in e-commerce related businesses; revenue in its mail segment was boosted by increased international mail transhipments, but offset by a decline in the traditional postal business in domestic mail and hybrid mail.

For the six months to the end of September, net profit rose 5.3 per cent year on year to S$76.84 million on a 6.4 per cent increase in turnover to S$431.26 million.

Earnings per share (EPS) for the reporting quarter were 1.584 cents, down from 1.680 cents, while half year EPS came in at 3.431 cents, down from 3.454 cents.

Similar to a year ago, a 1.25 cents per share interim dividend, payable on Nov 28, has been declared.

SingPost shares ended the day one cent lower at S$1.94, before the release of results.