SingPost said net profit rose 7.3% to $32.9 million for the second quarter ended 30 September 2012. Excluding one-off items, underlying net profit was $32.7 million, comparable to the same quarter last year.
SingPost said revenue grew 9.1% to $153.7 million in Q2 FY2012/13, with growth in all business segments. In spite of a 3.1% decline in domestic mail volume, Mail revenue was up 12.5% to $105.5 million, boosted mainly by a full quarter consolidation of new subsidiary, Novation Solutions as well as by growth in non-traffic activities such as mailroom management, letter shopping and growth in e-commerce packages.
Logistics revenue rose 4.2% to $55.3 million as e-fulfilment activities in Singapore and the region drove growth in Quantium Solutions and Speedpost.
In Retail, revenue increased 5% to $17.9 million with continued growth in financial services, largely contributed by postassurance and remittance services, as well as online store Clout Shoppe (e-commerce).
Rental and property-related income declined by 7.0% to $10.3 million as a result of lower rental income.
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