SingPost Q1 operating profit dives 60% to $3.4m as revenue falls

Decrease comes on the back of greater market pressure and competition

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Singapore Post's group operating profit for the first quarter ended June 30 came in at $3.4 million, a 60 per cent year-on-year drop from $8.4 million.

The decrease in operating profit comes on the back of increased market pressure and competition, said SingPost in a bourse filing on Aug 22.

Group revenue fell 23.8 per cent to $162.3 million compared with $213 million in the year-ago period. The decline was largely attributed to the significant reduction in international deliveries.

The drop means SingPost's profit margin was a mere 2 per cent. S&P Global Ratings downgraded its long-term issuer credit rating on SingPost to "BBB-" from "BBB" in July due to its high fixed operating costs.

Group operating expenses declined 22.7 per cent from $204.6 million to $158.2 million following the divestment of its Australia business in March 2025.

The company is yet to appoint a new chief executive after having fired Mr Vincent Phang in 2024 over the mishandling of a whistle-blower complaint.