SingPost sinks into S$75.1 mil loss in 4Q due to US business impairment charges & exceptional items

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SINGAPORE (May 7): Singapore Post (SingPost) reversed into the red for the 4Q ended March, posting a loss of S$75.1 million from earnings of S$31.8 million a year ago, due to impairment charges in exceptional items.

This also brings FY18/19 earnings to S$19 million, down 86% from FY17/18 due to impairment charges of S$98.7 million from its US businesses.

Excluding the impact of exceptional and other one-off items, underlying net profit declined 5.8% and 6.1% to S$100.1 million and S$14.5 million for the full-year and 4Q ended March, respectively, due to higher...(click on link for full story on theedgesingapore.com)