SingPost Q1 operating profit jumps 55.2% to S$4.1 million on cost management
The growth is also driven by lower labour-related costs and efficiency gains
Singapore Post (SingPost) reported a significant increase in its operating profit for the first quarter ended June 30, 2026. The company's operating profit jumped 55.2% to S$4.1 million, up from S$2.6 million in the same period last year. This surge was primarily driven by effective cost management, reduced labour-related expenses, and improved efficiency.
The operating profit margin expanded to 4.4% from 2.8% a year prior. Revenue for the quarter declined slightly by 0.9% to S$93.4 million. Despite challenges in logistics and letter services, gains in the post office network and property assets segments helped offset these declines. Domestic parcel volume increased by 36.5% year-on-year, and domestic mail volume fell by 16.2%, partially offset by a recent postage uprate.
Operating expenses decreased by 2.4% year-on-year, and the company's cash reserves grew to S$664.4 million, thanks to a S$52.8 million cash inflow from the sale of Housing & Development Board post office shops.
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- SingPost Q1 operating profit up 55.2% to S$4.1 million on improved costs businesstimes.com.sg
