SingPost's 1QFY22 operating profit is slightly below our estimates 1QFY22 operating profit of S$21m (-2% y-o-y) comprised 22% of our full-year projections and 4-5% below our estimates After a big 40% decline in FY21, we project underlying net profit to recover by 17% to S$70m in FY22F. We maintain HOLD with unchanged TP of S$0.69 […]

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