SingPost's profit shoots up by 38.5% to $53.4m

On back of a booming logistic segment.

The Postman is entering an era of transformation, and unlike transitory phases of most firms, SingPost is still racking up earnings while shifting, as its revenue rose by 19.4% to $263.2m.

According to analysts from OCBC, as SingPost remains aggressive in investing in its transformation initiatives, overseas and eCommerce related revenue now account for a large chunk of its topline.

"Excluding the impact of acquisitions and divestment of subsidiaries, revenue remained stable," OCBC said.

OCBC also noted that the logistic segment remained the star of the Postman's show.

"Despite its transformation, the group remains committed in paying out dividends, with a 1.5 S cents interim declared for the quarter," OCBC said.

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