SingPost's Q3 profit flat on higher costs

SINGAPORE Post's third-quarter net profit came in flat at $39.4 million, about 0.2 per cent lower year-on-year.

Its almost-unchanged bottom line occurred in spite of a 30.2 per cent jump in revenue to $222.6 million for the quarter ended Dec 31, 2013. This was boosted by contributions from General Storage Company and Famous Holdings, which were acquired early last year.

The two businesses were partially responsible for the 64.5 per cent bump in quarterly revenue for the group's logistics division, from $61.5 million to $101.2 million.