Each time you open your mailbox, you are utilising the services of Singapore Post Limited (SGX: S08), or SingPost. The postal and courier service provider recently released its first-half fiscal 2021 earnings. While many investors may continue to view SingPost as a dividend stock, the reality is that the group is not immune to the challenges brought about by the COVID-19 pandemic. Beyond that, there’s the question of the changing nature of post, as more people turn to email and electronic greeting cards instead of sending physical mail. These structural trends are having a significant negative impact on SingPost’s core business. Here are five aspects of the group’s latest earnings that investors should take note of. 1. Severe disruption from COVID-19 SingPost reported a healthy 9.6% year on year growth in group revenue from S$645.6 million to S$707.8 million for its first-half. However, the pandemic had caused conveyancing costs to soar nearly three-fold in May and June compared to pre-COVID times....