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SingPost says will add to e-commerce capabilities; H1 net profit falls 42.1%
Volume-related expenses rise 26.7% to S$429.2m
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Published Fri, Nov 6, 2020 · 09:50 PM
Singapore
SINGAPORE Post (SingPost) plans to grow its e-commerce business amid a surge in demand that lifted its revenue for the six months ended September. But moving parcels is a competitive business, and not a particularly lucrative one.
"While earnings for the domestic e-commerce (segment) are growing and accelerating, margins are not like-for-like against letter mail," said SingPost's CEO Paul Coutts.
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