SingPost operating profit falls 60% YoY in Q1 FY25/26

Its revenue also declined by 23.8% YoY amidst challenges in the market.

Singapore Post has reported a group operating profit of $3.4m for the first quarter ended 30 June 2025, a 60% drop from $8.4m during the same period the previous year.

In its bourse filing, SingPost said this decrease in operating profit comes on the back of increased market pressure and competition.

The group’s revenue fell 23.8% year-on-year (YoY)  to $162.3m in Q1 FY25/26. The decline was largely attributed to the significant reduction in international deliveries.

SingPost noted that its group operating expenses declined by 22.7% YoY to $158.2m primarily because of prudent cost management. Following the divestment of the Australia business in March 2025, the group said it has initiated the right-sizing of its cost base to align with its reduced operating footprint.

SingPost said that its domestic and international delivery businesses recorded lower revenue due to a decline in delivery volumes. Letter mail volume contracted due to continuing e-substitution. Domestic and international e-commerce volumes were lower amidst competitive pressure.