SingPost net profit drops 70.3% in 2023

Its profit stood at S$24.6m in the financial year ended 31 March.

Singapore Post Limited (SingPost) reported its net profit attributable to equity holders declined by 70.3% to S$24.6m in the year ended 31 March.

This is down from S$83.11m in the same period in 2022. SingPost noted this was weighed down by losses in Post and Parcel business.

Over the same period, SingPost recorded a 12.4% revenue growth to S$1.87b, driven by growth in Australia offsetting losses in its Post and Parcel business as well as freight forwarding business.

Its logistics business saw a 32.4% revenue growth to S$1.32b, whilst its property and inter-segment eliminations business recorded a 23.1% and 14.8% revenue declines, respectively.

Follow the link for more news on

SingPost

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia