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SingPost Q1 operating profit up 55.2% to $4.1 million. SingPost says revenue gains in its post-office network and property-assets segments largely counterbalanced a mixed performance in logistics and letters. Shikhar Gupta Published Aug 26, 2026, 06:36 PM Updated Aug 26, 2026, 07:27 PM * SingPost's Q1 operating profit rose 55.2% to $4.1 million due to better cost management and efficiency, despite a slight 0.9% revenue drop to $93.4 million. * Domestic parcel volume grew 36.5%, offsetting declines in mail volume and international business, while operating expenses fell 2.4%, helped by fuel cost controls. * The company opened a $30 million automated sorting facility, maintained strong property and post office performance, and held a net cash position of $314.7 million as of June 30. AI generated SINGAPORE - Singapore Post (SingPost) recorded an operating profit of $4.1 million for its first financial quarter ended June 30, up 55.2 per cent from $2.6 million in the corresponding year-ago period. The growth was driven primarily by cost management, lower labour-related costs and efficiency gains, it said in a business update on Aug 26. Operating profit margin expanded to 4.4 per cent from 2.8 per cent a year earlier. The prior-year operating profit was restated from $3.4 million to $2.6 million following recent divestments, establishing a more like-for-like baseline. Revenue for the first quarter fell marginally by 0.9 per cent year on year to $93.4 million from $94.2 million. SingPost said revenue gains in its post-office network and property-assets segments largely counterbalanced a mixed performance in logistics and letters. Within logistics and letters, domestic parcel volume expanded 36.5 per cent year on year to 7.1 million items, helping to mitigate continued declines in mail volume and international business headwinds. Domestic mail volume fell 16.2 per cent to 67.3 million items. SingPost noted that domestic mail performance was also buffered by a postage uprate introduced in January.

Residents can post mail from all HDB, condo letterboxes by Sep 30; no plans to remove postboxes: SingPost. SingPost also unveiled a S$30 million automated parcel sorting facility at its e-commerce logistics hub in Tampines that would reduce its manpower needs. New: You can now listen to articles. 09 Jun 2026 01:00PM Add CNA as a trusted source to help Google better understand and surface our content in search results. Read a summary of this article on FAST. SINGAPORE: Instead of a post office or a postbox, residents will soon be able to post letters and small packets directly from their residential blocks, after Singapore Post (SingPost) said on Tuesday (Jun 9) that it will expand a trial of the service islandwide. The SingPost@MyBlock scheme, which allows residents to deposit mail into a designated slot within their block's "letterbox nest" for collection by postmen, will be implemented in all Housing and Development Board estates and condominiums in three phases starting from Jul 31. The rollout is set to complete by Sep 30. Under the initiative, residents can post envelopes, postcards and small packets, including SmartPac items and mail bearing prepaid labels, as long as they fit through the slot. Items deposited before 10am will be delivered on the next working day. SingPost vice president of operations Goh Chee Hiong said the rollout will bring the total number of letterbox nests in the postal network to more than 20,000. The earlier trials for SingPost@MyBlock began in Punggol in Oct 2025 and was later expanded to four other housing estates: Bukit Batok, Bukit Panjang, Marine Parade and Upper Boon Keng. In the meantime, SingPost will continue to maintain about 40 post offices and around 786 postboxes across Singapore. Asked whether the initiative could eventually reduce the need for postboxes, SingPost chief executive officer Mark Chong said no decisions have been made on their future. "We already noticed that some posting boxes... are not so utilised, especially those by the street side," Mr Chong said. "I think if it's not used, there are many ways to think about it, either we repurpose them or eventually if it's not used, somebody should remove it so that it doesn't become an eyesore on the street." Mr Goh added that there are currently no plans to extend the service to landed housing or industrial estates, where conventional postboxes will continue to serve residents. New S$30 million facility. The expansion of SingPost@MyBlock comes as the postal operator accelerates efforts to automate its operations and improve efficiency. On Tuesday, the company also unveiled a S$30 million (US$23 million) automated parcel sorting facility at its Regional eCommerce Logistics Hub in Tampines. Occupying half a floor of the building, the facility consolidates parcel sorting operations that were previously split between Tampines and SingPost Centre in Paya Lebar. The postal group earlier scrapped plans to sell its flagship building in Paya Lebar. Instead, the company will be enhancing facilities and the retail experience at the mall. The latest round of investments is part of SingPost's broader strategy to automate operations and reduce the expenses it incurs in providing its services by more than 10 per cent. During a tour of the facility, reporters were shown how automation boosts processing capacity. Parcels moved through the two automated sorting systems - a 3D sorter and a larger intelligent flexi sorter - that help to reduce processing time. The 3D sorter handles smaller parcels, which helps to reduce daily processing times at delivery bases by up to three hours. A second "flexi" sorter processes up to 16,200 small- to medium-sized parcels per hour. Parcels deposited at the sorter eventually pass through an optical scanner which scans labels from all sides. The technology records the weight and dimensions of the parcel and takes high-resolution images, and can also automatically reject oversized items. The sorted parcels are then moved into one of 327 output chutes - metal slide-like structures located on either side of the conveyor belt - based on their destination, and put into roller cages that are transported into delivery trucks. Automating labour intensive tasks. Supporting the sorting systems are 40 automated guided vehicles that can each carry 600kg loads, and reduce the need for manual labour to move parcels around the facility. The automated vehicle is fully electric and takes about 1.5 hours to charge, powering it for up to eight hours each time. Reporters saw how the vehicles navigate the facility using markers on the floor. The parcels are then sent to five delivery bases across Singapore to undergo a final round of sorting, after which they are dispatched for delivery. The facility also operates three larger autonomous vehicles that can move parcels between different levels of the building. Collectively, these upgrades halve the processing time and triples SingPost's small- and medium-sized parcel processing capacity from 100,000 to 300,000 parcels per day, which means its total daily throughput - when combined with existing large parcel operations - is 400,000 parcels. Reduced manpower needs. In terms of manpower, automation has reduced staffing requirements from about 300 workers to between 150 and 200. However, Mr Chong said the reduction would largely affect temporary workers rather than permanent staff. "The fact is actually we don't have enough permanent staff. We leverage a lot on temporary staff, so with this new equipment, we will need less temporary staff. "But for our own staff we will also upskill them, train them. Those who are able to, they could move on to the new roles," he said. Mr Chong said the company would need workers with new skill sets to support its automated operations, including engineers who can manage systems, analyse operational data and oversee autonomous vehicles. SingPost said it has already begun recruiting for data analytics and IT-related roles, though it did not state how many are needed in total. Related topics.

SingPost FY25/26 net profit plunges 75% to $60.9m on volume decline. Revenue dropped 23.1% to $376.1m as international volumes and mail declined. Singapore Post Limited (SingPost) reported net profit attributable to equity holders of $60.9m for the financial year ended 31 March, down 75.2% from $245.1m a year earlier. Revenue fell 23.1% year on year (YoY) to $376.1m from $489.1m, driven by lower international volumes and continued decline in domestic letter mail. Operating expenses fell 19.3% to $365.4m, but did not offset the drop in revenue, resulting in operating profit declining 68.9% to $11.8m. Underlying net profit declined 57% YoY to $10.7m from $24.8m whilst profit after tax fell 75.7% YoY to $59.5m. The company recorded $19.2m in exceptional items, down from $225.8m a year earlier. It also booked a $38.1m derecognition of aged trade payables following a review of its accounting treatment for international postal settlements. Join Singapore Business Review community Domestic eCommerce volumes rose 8.1% YoY, partly offsetting a 13.5% decline in domestic letter mail. International eCommerce volumes fell 57.9%. The Post Office Network narrowed its operating loss by 27.4% to $10.7m, supported by lower operating costs. The Property Assets segment posted revenue of $80.7m, up 2% YoY, whilst operating profit rose to $45.2m. Occupancy improved to 99.4% from 98.2%. The board proposed a final dividend of 0.06 cents per share and a supplemental dividend of 0.41 cents per share. A previous year included a 9.0-cent special dividend. SingPost said it is focused on cost optimisation, automation and portfolio review, including potential enhancements to SingPost Centre.