One-off gains lift Q2 earnings of SingPost

Singapore

SINGAPORE Post (SingPost), which is rapidly expanding into e-commerce and logistic business, reported 38.5 per cent rise in net profit to S$53.44 million, up from S$38.59 million one year ago for the fiscal second quarter ended Sept 30. Revenue for the period rose 19.4 per cent to S$263.17 million from S$220.34 million.

The rise was helped by one-off gains. The company's underlying net profit - before one-off items - for the period was down 4.8 per cent at S$37.54 million, from S$39.43 million one year ago.