However, the group’s revenue for the 1HFY2022 rose 31.1% y-o-y to $958.9 million, the highest revenue recorded for the half-year period. The revenue increase was led by growth in the Logistics segment, which included the consolidation of FMH.
Singapore Post Limited has posted a loss of $9.9 million for the 1HFY2022 ended Sept 30, down from its earnings of $35.0 million in the corresponding period the year before.
The loss was attributed to the fair value charge of $21.0 million from the higher put option redemption liability on the group’s 51%-owned Freight Management Holdings (FMH) as a result of a higher valuation of the Australian company.
