Singapore Post (SingPost) announced its unaudited results for the fourth quarter and financial yearended 31 March 2008 recording a 6.8% growth in full-year net profit to S$149.8 million (€70.9
million).The group’s full-year revenue grew by 8.4% to S$436 million (€224.5 million). Mail revenueincreased by 7.9% to S$365 million (€173.5 million) due to higher mail volumes and priceadjustments while logistics revenue rose by 6.7% to S$68.6 million (€32.6 million) due to highercontributions from Speedpost, vPost online shopping and shipping transactions, and warehousing,fulfillment and distribution.
SingPost’s CEO Wilson Tan said: “In FY2008/09, we expect continued pressures from the globaldownturn and rising costs. To mitigate these cost increases, we will focus on enhancingproductivity and efficiency to better support our business growth. Barring any significant changes,we expect operating costs to stabilize.”
