SingPost's Q3 profit up 15.6% to S$50.2m

Singapore

A ONE-TIME gain of S$28.2 million from the dilution of interest in a Chinese associate gave a fillip to Singapore Post's (SingPost) results for its third quarter.

For the three months ended Dec 31, net profit rose 15.6 per cent to S$50.2 million from S$43.4 million for the year-ago quarter. This comes as 4PX ceased to be an associated firm after the group's shareholding was diluted by the issuance of additional 4PX shares to an existing shareholder of the China-based company. Earnings per share stood at 2.06 Singapore cents for the quarter, up from 1.75 Singapore cents in the year-ago period. An interim dividend of 0.5 Singapore cent per share will be paid out on Feb 28, SingPost said.