(From Article)
Singapore Post says it achieved a net profit of $26.1 million for the fourth quarter ended 31 March 2013, down 14.6% from a year ago.
Earnings per share fell to 1.185 cents.
Full year net profit declined 3.9% to $136.5 million.
Overall revenue grew 25.0% to $182.4 million in Q4, with the consolidation of newly acquired subsidiaries as well as contributions from e-commerce related activities across all business segments.
Contributions from new subsidiaries included Novation Solutions which was acquired in May 2012, General Storage Company in January 2013, and Famous Holdings in February 2013.
Full year revenue grew 13.9% to $658.8 million.
In Mail, domestic mail volume continued to decline for the 6th consecutive quarter.
For the full year, SingPost saw its first-ever annual decline of 2.6% in letter mail volumes.
However, growth in domestic and international e-commerce packets, a s well as increased hybrid mail contributions boosted overall Mail revenue.
Excluding Novation Solutions, Mail revenue grew 9.8% to $105.8 million in Q4, and 8.2% to $417.0 million for the full year.
In Logistics, first-time consolidation of General Storage and Famous Holdings improved revenue.
Excluding the two new subsidiaries, Logistics revenue grew by 11.2% to $60 million in Q4, driven by e-fulfilment growth in Quantium Solutions, Speedpost and transhipment business.
For the full year, revenue grew 9.5% to $235.7 million, excluding contributions from the new subsidiaries.
The Board of Directors is recommending a final dividend of 2.5 cents per share for FY2012/13.
Together with the interim dividend payments of 1.25 cents per share for each of the first three quarters of the financial year, the proposed total dividend for FY2012/12 would be 6.25 cents per share.
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