SingPost's investments in logistics and e-commerce bearing fruit

Singapore

SINGAPORE Post's aggressive push into the logistics and e-commerce space appears to be paying off as the group registered increased earnings despite weakening contributions from its traditional mailing business.

In Q3 FY15, for the three months ended Dec 31, 2014, the courier service provider registered a net profit of S$42.23 million, 7.3 per cent higher than the corresponding period in the previous year.

Over the same period, revenue increased by 7.6 per cent to S$239.62 million, as improved contributions from its e-commerce and logistics businesses offset the decline in mail revenue.

In the latest quarter, revenue contributions from its mailing business fell 2.3 per cent to S$130.11 million while the group's logistics turnover surged 20.7 per cen…