It's a bumpy road for SingPost in the e-commerce arena
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SINGAPORE Post (SingPost) is having some trouble generating profits from its growing e-commerce logistics business, and given the money that startups are pouring into this space, it is easy to see why.
The mainboard-listed company reported growth in e-commerce volumes in the half-year ended September, which lifted its revenue 9.6 per cent to S$707.8 million.
Its net profit, however, shrank 42.1 per cent to S$30.9 million, as volume-related expenses rose.
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