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SingPost Q1 profit up 15.8% at S$46.6m

SINGAPORE Post posted a 15.8 per cent rise in net profit to S$46.6 million for the first quarter ended June 30, from S$40.2 million a year ago. Revenue grew 20.7 per cent, from S$210.9 million to S$254.6 million boosted by continuing growth in eCommerce and logistics and the inclusion of new subsidiaries, said the national postal service provider. Stripping off the impact of M&As and the divestme...


Acquisitions and e-commerce boost SingPost's earnings

Acquisitions and the growth of e-commerce activity helped drive earnings to record highs at Singapore Post in the first quarter. Net profit shot up 15.8 per cent to $46.6 million in the three months to June 30 over the same period last year, thanks also in part to one-off gains from the disposal of subsidiaries Novation Solutions and DataPost (Hong Kong). If these are stripped out, underlying...


GLP to acquire US$4.55 billion US logistics portfolio

GLOBAL provider of modern logistics facilities GLP announced on Wednesday that it is acquiring a US$4.55 billion logistics portfolio in the United States, which will propel the company to become the second largest logistics property player there within a year of market entry. The portfolio - comprising 58 million square feet of logistics assets spread across 20 markets, including Los Angeles and...


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