Singapore Post (S08) Q3 2026 earnings summary

Executive summary

• Q3 revenue reached S$92.3 million, down 26.8% year-over-year, with operating profit at S$3.8 million, a 38.3% decline from the prior year.

• Domestic eCommerce volume grew 12% YoY during the seasonal peak, but this was offset by continued declines in letter mail and cross-border eCommerce volumes.

• Property leasing business showed improved performance, with occupancy rates rising to 98.9%.

Financial highlights

• Operating expenses fell 26.2% YoY to S$88.5 million, reflecting lower volume-related and labor costs after the Australia business sale.

• Operating margin for Q3 was 4.1%, up from 3.3% in Q2 but down from 4.9% a year ago.

• Cash and cash equivalents decreased 14.1% since March 2025, mainly due to a special dividend payment.

• Net debt position improved by 28.3% to S$248.7 million.

Outlook and guidance

• Focus remains on strengthening core businesses and operational efficiency.

• A 10 cents postage rate increase was implemented from 1 January 2026.

• Investment in new small-parcel sorting equipment is on track for mid-2026 completion.

• Expansion of customer touchpoints and digital offerings continues, with over 2,500 points now in Singapore.