Singapore Post Limited (SingPost) announced its financial results for the third quarter and ninemonths ended 31 December 2007 recording a 9.2% growth in revenues from S$111.8 million to S$122.0
million.The group’s mail revenue increased by 9.5% from S$86.0 million to S$94.2 million due to highermail volumes while logistics revenue rose by 5.3% from S$17.0 million to S$17.9 million due toincreased traffic of Speedpost and growth in vPOST on-line shopping transactions.
SingPost’s CEO Wilson Tan said: “The third quarter is traditionally a busier period for SingPostbecause of the year-end festive season. Despite the decline in year-end festive postings, weachieved steady growth in direct mail in tandem with a robust Singapore economy.”
The group is positioned to address the challenges from the liberalisation of the basic mailservices market actively pursuing and implementing initiatives to grow its core businesses of mailand logistics. It also plans to leverage its retail and distribution network offering higher valueproducts and services to its customers and to extend its reach to regional markets, SingPost saidin a statement.
