SingPost's e-commerce, logistics units show promise, but challenges remain
SINGAPORE Post (SingPost) reported an improved set of financial results for the half year to September, as its e-commerce and logistics businesses grew strongly amid the pandemic and skyrocketing freight rates.
During the 6-month period, the century-old national postal service provider's logistics business delivered revenue of S$379.5 million. This made logistics the group's largest top line contributor, overtaking its post and parcel business' revenue contribution of S$325.5 million.
SingPost's logistics revenue - contributed by e-commerce logistics …
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Axiata, Sinar Mas move closer to US$3.5 billion telco merger
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
VinFast chief plans to invest US$1 billion more from his fortune in EV maker
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’
Asia: Markets mixed as global rally stalls, eyes on yen