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Covid-19 disruption in postal and logistics services to hit Singpost: CGS-CIMB

Broker's Calls

Covid-19 disruption in postal and logistics services to hit Singpost: CGS-CIMB

Jeffrey Tan Published on Tue, Apr 21, 2020 / 3:13 PM GMT+8

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SINGAPORE (April 21): Singapore Post (Singpost) is expected to record lower earnings and revenue ahead, given the disruption in postal and logistics services caused by the novel coronavirus (Covid-19) pandemic, according CGS-CIMB Research.

The brokerage has penciled in a “steep decline” in the company’s top line and core profit after tax and minority interest.

This brings the figures down to $235 million and $19 million, respectively, for 4Q FY20.

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