SingPost almost doubles first-half profit to $22.6 million

SingPost's net profit for the first half year ended September nearly doubled to $22.6 million on higher revenue, it reported on Nov 6.

This represented a 97.3 per cent increase from $11.5 million in the year-ago period, as revenue rose 20 per cent to $992.4 million from $827.3 million a year prior.

Earnings per share (EPS) excluding distributions to perpetual securities holders stood at 0.76 cent, up 181.5 per cent from 0.27 cent a year ago.

During the period under review, distributions amounting to $5.4 million were recognised, and the majority was paid to perpetual securities holders. Including this, EPS for the period was one cent, 96.1 per cent up from the prior year's 0.51 cent.

The group declared an interim dividend of 0.34 cent per share to be paid out on Dec 2, 2024.