Singapore Post (SingPost) has reported a significant decline in its Q1 revenue for the financial year 2025/26, amounting to S$162.3m, a 23.8% decrease from the previous year’s $213.0m. The drop is largely attributed to a reduction in international deliveries amidst increased market pressure and competition.
Operating expenses also saw a reduction of 22.7%, from S$204.6m to S$158.2m, as the company implemented cost management strategies following the divestment of its Australian business in March 2025. This strategic move was part of SingPost’s efforts to align its cost base with its reduced operational footprint. Consequently, the group’s operating profit fell to S$3.4m from S$8.4m in the previous year.
The postal and logistics segment experienced lower revenue due to declining delivery volumes, with letter mail volume contracting as e-substitution continued to rise. Additionally, both domestic and international eCommerce volumes were affected by competitive pressures. During the quarter, SingPost unwound Quantium Solutions International’s minority cross-holdings with Alibaba, selling QSI’s 17.6% stake in Shenzhen 4PX to Cainiao.
In the property sector, leasing revenue from SingPost Centre remained stable, with an overall occupancy rate of 97.8%. SingPost has also initiated the divestment of 10 HDB shophouses on a sale and leaseback basis, maintaining current post office services.
Looking ahead, SingPost aims to focus on its core Singapore business, streamline operations, and enhance digital capabilities in its domestic delivery services. The company is committed to improving operational efficiency and creating sustainable value for stakeholders.
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