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DJ Singapore Post's Operating Profit May Rise in FY 2022 -- Market Talk

· 02/04/2021 21:14

0214 GMT - Singapore Post's operating profit may rise 31% to S$115 million in FY 2022, DBS Group Research says, as it upgrades its rating to hold from fully valued. The bank expects the company's operating profit to be supported by likely sharply-reduced costs at its cross-border ecommerce business. Although its post and parcel segment remains under structural pressure due to the continued decline in domestic mail, DBS expects the company to gain from improving footfall traffic and tenant sales at its property segment. DBS raises its target price to S$0.74 from S$0.60. Shares are up 0.7% at S$0.70. (justina.lee@wsj.com)

(END) Dow Jones Newswires

February 04, 2021 21:14 ET (02:14 GMT)

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