07 November 2016

Singpost bad result resulted in a plunge of share price on 11 Sep 2016

The results were announced last weekend and it wasn't that fantastic. It reported a 41.2% fall in 2Q earnings to $31.4 million from a year ago due to the absence of one-off divestment gains which boosted the bottomline a year ago.

Revenue rose 22.3% to $321.7 million, thanks to contributions from new subsidiaries. Revenue from postal services and logistics was relatively stable at $127 million and $154 million.This resulted in a plunge in price of the share despite Alibaba increased it's stake in Singpost.

Price has pierced down to 1.55 and now it is back to 1.57. If it breaks 1.56, it might test 1.53 then 1.49. No matter what, this stock is still up trending.

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