SingPost reported a 23.8% drop in the Group Operating Profit for Q3 ended December to SGD 21.1 million. This can be attributed to SingPost's Singapore and international business units outpacing revenue growth.
However it is not doom and gloom as Group Revenue rose 12.1% to SGD 510.6 million.
Following the sale of its Australian business, investors hope to receive a special dividend.
Performance wise SingPost shares are up 5.2% in the past 5 days and 12% year todate. In 2024, SingPost has jumped 44%.
SingPost has a Buy rating from analysts with an Average Target price of SGD 0.68, an upside potential of 13%.
With the restructuring exercise which would lead to some cost savings, SingPost's share price may rebound again.
@Tiger_SG @Tiger_comments @TigerStars @CaptainTiger @TigerClub
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