Contraction in freight volumes weighs on group revenue in FY2023-24
Driven by a contraction in freight volumes and rates due to post-pandemic normalisation, Singapore Post witnessed a 9.9% fall in group revenue in FY2023-24. Singapore Post’s EBIT margin of 5.0% in FY2023-24 was stable year-on-year; however, the post’s operating profit fell nearly 9% to reach €58.4m.
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