SingPost H1 profit up 183.7% at S$55.9 million on sale and leaseback of HDB shophouses
Revenue slips 1.3 per cent to S$185.9 million, mainly due to declining international mail volumes
Singapore Post (SingPost) reported a substantial increase in net profit for the first half of 2026, with profits soaring 183.7% to S$55.9 million compared to S$19.7 million a year ago. This significant rise was mainly attributed to exceptional gains from property divestments, accounting for S$44.4 million, up from S$13.9 million in the previous period.
The decline in revenue came at 1.3% to S$185.9 million from S$188.4 million, primarily due to lower international revenue as a result of a long-term decrease in letter mail volumes. Despite this, underlying net profit more than doubled to S$11.5 million from S$5.5 million, buoyed by enhanced operating performance and a tax provision write-back.
SingPost's interim dividend was set at S$0.0015 per share, an increase from S$0.0008 a year earlier, payable on December 4. The company's CEO, Mark Chong, acknowledged the challenging operating environment, highlighting the need for maintaining operational discipline while green shoots emerge in the strategy's execution.
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