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Home World Asia Pacific

SingPost reports S$245 million net profit following sale of Australia business

14 May 2025
in Asia Pacific
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SingPost reports S5 million net profit following sale of Australia business
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SINGAPORE: Singapore Post reported a full-year net profit of S$245.1 million, more than double last year, mainly due to a S$222.2 million exceptional gain from divesting its Australia business. However, its underlying net profit fell over 40% to S$24.8 million, reflecting challenging conditions in the global logistics sector, with a revenue decrease of 7.5% to S$813.7 million. The company plans to allocate proceeds from the sale towards debt reduction and has recommended a S$202.5 million special dividend, subject to shareholder approval.

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Tags: AustraliaBusinessMillionnetProfitreportsS245saleSingPost
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