Singapore Stock Market News
Singapore Post Ltd - 1QFY19: missed delivery, delayed turnaround
StockFanatic
Publish date: Tue, 07 Aug 2018, 11:35 AM
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■ Deviance was due to larger-than-expected associates' losses, higher taxes and wider e-commerce losses. Higher rental income offered partial buffer to earnings decline.
■ Decelerating international mail growth, low logistics profitability and continuous ecommerce investments are areas we will monitor ahead.
■ We turn more cautious on SPOST's operating environment and downgrade the stock from Add to Hold, with a lower target price of S$1.27 and 3% dividend yield. Read More
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