SingPost transition lifts FY23/24 net profit to $81.5m

NPI rose 110.2% YoY.

Singapore Post's (SingPost) evolution into a logistics enterprise has yielded significant results, with the company’s net profit soaring 110.2% year-over-year to $81.5 million in FY23/24.

With higher net profit, the company recommended a final exempt, one-tier dividend of 0.56 cents per ordinary share.

“Including the interim dividend of 0.18 cents per share paid out in November 2023, the total dividend would amount to 0.74 cents per share, or 40% of the underlying net profit, representing an increase of 28% YoY,” the company said.

The group’s revenue, however, declined from $1.87b to $1.69b due to a reduction in its sea freight revenues.

Revenue declined across SingPost’s business segments, except property, which remained stable at $77.7m.

Logistics revenue fell to $1.17b in FY23/24 against $1.32b in FY22/23, whilst post and parcel reported a lower revenue of $514.1m against S$524.5m in the previous financial year.

Follow the link for more news on

Singapore Post Limited

Financial Statements

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