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Is SingPost's revenue not growing fast enough?

Singapore Business Review

Its headline rose 2% YoY in the past quarter.

For UOB Kayhian, Singapore Post's revenue is not growing fast enough as it suffers operating costs.

According to the brokerage firm, the topline managed to increase 17% YoY on the back of contribution from its US e-commerce subsidiary, Couriers Please, as well as increased international mail revenue.

However, this was dampened by the 23% increase in operating expenses, where key items such as volume-related expenses, which grew 29%, and labour-related expenses, which rose 15%, showed no signs of abating and continued to ground earnings uplift.



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