SingPost H1 profit up 183.7% at S$55.9 million on sale and leaseback of HDB shophouses
November 6, 2026 / /
Revenue slips 1.3 per cent to S$185.9 million, mainly due to declining international mail volumes
[SINGAPORE] Singapore Post (SingPost) announced on Friday (Nov 6) a 183.7 per cent rise in net profit to S$55.9 million for the first half ended Sep 30, 2026, from S$19.7 million a year earlier, largely driven by exceptional gains from property divestments.
Exceptional items amounted to S$44.4 million, compared with S$13.9 million in the year-ago period, largely reflecting gains from the sale and leaseback of 10 Housing & Development Board (HDB) post office shophouses.
But such exceptional gains are not likely to be repeated even as SingPost also announced cutting down post office branches to 30 from the current 40.
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