SingPost banks on e-commerce as Covid-19 hits other business segments

Singapore

LIKE many other firms, Singapore Post saw its net profit drop sharply due to the Covid-19 pandemic, but group chief executive Paul Coutts sees some of the disruptions as temporary shifts, remaining sanguine about the postal service provider's future.

The mainboard-listed company posted a 47.7 per cent fall in full-year net profit to S$47.6 million for the fiscal year ended March, down from S$91.1 million the previous year.