Singapore Post Limited has announced its results for the full year ended 31 March 2021.
Group revenue for the financial year rose by 6.9% to S$1.4 billion, largely led by strong eCommerce volume growth in both the Logistics as well as Domestic Post and Parcel segments. For the full year, eCommerce revenue represented 34% of total Domestic Post and Parcel revenue, up from 21% the year before.
Net profit attributable to equity holders however, declined to S$47.6 million, mainly due to COVID-19 related disruptions. This was partly offset by higher earnings contribution from the Logistics segment, as well as the absence of losses from discontinued operations.