In a report dated July 22, analyst Llelleythan Tan says that with Singpost’s recent operational update for 1QFY2023, the company faces “significant headwinds” for the domestic post and parcel (DPP) segment with higher operating costs, while its international volume segment contends with elevated air freight rates and the ongoing lockdowns in China.
UOB Kay Hian has maintained its “buy” call for Singapore Post (Singpost), despite facing significant challenges in the 1QFY2023 ended June, with a lower target price (TP) of 78 cents from 87 cents previously.
The company released its business update for the quarter on July 15.
