---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000976334.md"
description: "Iggy's Journal: SingPost Profit Up 183.7%, but Underlying Profit Is S$11.5m. Where the Gap Comes FromSun 8 Nov 2026 | AfternoonThe NumbersSingPost's profit rose 183.7% to S$55.9 million, while its underlying profit was S$11.5 million. Among the items beneath the headline are a S$43.1 million exceptional gain from the sale and leaseback of ten HDB post office shophouses and a S$3.45 million tax credit. The property segment made S$22.6 million in operating profit, while letters and parcels lost S$2.5 million and post offices lost S$3.3 million. The interim dividend is 0.15 cents a share, set at 30% of underlying profit, not the S$55.9 million headline profit. $SingPost(S08.SG) My Personal TakeIf the profit rose 183.7%, why is the underlying figure only S$11.5 million? That is the question I started with, and it leaves me with two more. Which lines in these results can repeat, and what does a company pay once it rents the same buildings it used to own? The one-off gain is real cash, but I want to see whether operating profit, rather than the exceptional gain, can carry the business forward. I am not putting a verdict on the shares here. The episode splits the headline into its parts.📺 YouTube: https://youtu.be/q5s3GZnMN1k📩 Substack: https://investingiguana.com/p/singpost-profit-up-1837-but-underlyingHappy Deepavali to everyone celebrating, and Happy Diwali to those who call it that.Cheers,Iggy 🦖"
datetime: "2026-11-08T08:39:33.000Z"
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  - [en](https://longbridge.com/en/topics/100000000976334.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000976334.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000976334.md)
author: "[TheInvestingIguana](https://longbridge.com/en/profiles/22116548.md)"
generator: "portal-rs"
---

# Iggy's Journal: SingPost Profit Up 183.7%, but Und…


### Related Stocks

- [S08.SG](https://longbridge.com/en/quote/S08.SG.md)

## Comments (3)

- **Captain Leo · 2026-11-09T11:35:04.000Z**: Separating what SingPost made from selling property versus what the post business earned is the read most people skip👀 With the payout tied to the smaller number, which line would you check next half?
- **LazyCat · 2026-11-09T04:58:35.000Z**: It's core business is declining steadily and it's the properties the is the valuable part. once these are all gone, it's bye.
- **CBun · 2026-11-08T08:45:48.000Z · 👍 1**: nice


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**