The higher financing costs somewhat offset operational improvements enjoyed by SingPost in its domestic operations, thanks to higher postage rates allowed by the government.
SingPost's 1HFY2025 earnings nearly doubled but fell short of some analysts' expectations. Pending details of a long-planned "strategic review" of its Australia-based businesses, analysts from OCBC Investment Research and UOB Kay Hian have maintained their respective calls and target prices for now.
For the half year ended Sept 30, SingPost reported core Patmi of $25.2 million that's up 87.6% over the year-earlier period. However, no thanks to higher-than-expected interest costs, this figure was short of what UOB Kay Hian analyst Llelleythan Tan Yi Rong was projecting.
