Excluding the impact of exceptional and other one-off items, underlying net profit declined 5.8% and 6.1% to $100.1 million and $14.5 million for the full-year and 4Q ended March, respectively, due to higher losses from the group’s US businesses.
SINGAPORE (May 7): Singapore Post (SingPost) reversed into the red for the 4Q ended March, posting a loss of $75.1 million from earnings of $31.8 million a year ago due to impairment charges in exceptional items.
This also brings FY18/19 earnings to $19 million, down 86% from FY17/18 due to impairment charges of $98.7 million from its US businesses.
