SingPost operating profit falls 38.3% to $3.8m in Q3 FY26

Revenue declined 26.8% to $92.3m YoY.

Singapore Post reported a 38.3% year-on-year (YoY) decline in operating profit to $3.8m for the third quarter ended 31 December 2025 (Q3 FY26), compared with $6.2m a year earlier, according to a filing.

Revenue fell 26.8% to $92.3m from $126.2m, whilst operating margin narrowed to 4.1% from 4.9% a year earlier. Operating profit rose 22.6% quarter on quarter (QoQ) from $3.1m.

Operating expenses declined 26.2% to $88.5m, reflecting lower volume-related costs and reduced labour expenses following the sale of its Australia business at the start of the financial year.

Domestic eCommerce delivery volumes increased 11.6% YoY during the seasonal peak. Cross-border eCommerce delivery volumes fell 58.9% YoY, whilst domestic letter mail and printed papers volumes declined 23.4%.

Property leasing revenue improved as overall occupancy at SingPost Centre increased to 98.9% as at 31 December 2025 from 98.2% a year earlier. The divestment of 10 HDB shophouses is awaiting regulatory approvals under a sale-and-leaseback arrangement.

Cash and cash equivalents stood at $598.4m as at 31 December 2025, down from $696.4m as at 31 March 2025, mainly due to a special dividend payment of $202.6m. Borrowings remained at $349.6m, whilst net debt narrowed 28.3% to $248.7m.

The company implemented a 10 cents postage uprate effective 1 January 2026 and expects new small-parcel sorting equipment at its Regional eCommerce Logistics Hub to be fully operational in mid-2026.

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