Singapore Post posted a 0.6% increase in 3Q earnings to $43.5 million from a year ago.
Revenue for the three months to December rose 32% to $31 & 18 million. For the nine months to December, earnings increased 17.6% to $143.5 million. This came on the back of a 24.3% increase in revenue to $834 million.
The increase in revenue was lifted by the continuing expansion of SingPost’s e-commerce and logistics activities, as well as contributions from new units.
E-commerce-related revenues rose 53% and made up 33.4% of group revenue from 27.1% in the previous year.
Meanwhile, overseas revenues increased to 41.9% of group revenue in the first nine months from 31% a year ago.
Revenue from the groups logistics operations increased 39.5% to $458.4 million mainly due to the growing contributions from e-commerce logistics activities and the inclusion of revenues of new subsidiaries.
Over the past nine months, the …