Continued growth in cross-border e-commerce volumes resulted in a 9% increase in international postal revenue for Singapore Post in 2019.

Total revenue for its post and parcel division grew 4% in the year which, along with higher rental income derived from its retail mall, helped offset revenue declines for the logistics and e-commerce divisions. Singapore Post’s total revenue increased 3% in 2018. Following ongoing challenges in improving performance for its US e-commerce logistics subsidiaries, contributing to a more than 75% drop in net profit for the year, the operator announced in 2019 that it would divest its US businesses. For more details download the latest IPC Carrier Intelligence Report for Singapore Post.

 

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