KUALA LUMPUR, Feb 22 — Pos Malaysia Bhd’s net loss for the financial year ended December 31, 2021 (FY2021) widened to RM335.73 million compared with a net loss of RM308.02 million in FY2020.

Revenue declined to RM2.19 billion from RM2.33 billion previously, the group said in a filing with Bursa Malaysia today.

It said postal segment’s revenue was down 12 per cent primarily contributed by the drop in postal services following the decrease in mail and parcel volume handled especially from contract customers.

The group also said the higher loss registered for the postal segment was contributed by mutual separation scheme of RM75.1 million compared to RM41.6 million provided in FY2020.

Meanwhile, the logistics segment registered 10 per cent higher revenue of RM345.9 million during the year mainly from freight management business (especially from freight forwarding) and automotive business (largely from commencement of new warehouses during the year).

Besides, its aviation segment contributed 33 per cent higher revenue of RM216.1 million mainly from increased contribution from higher cargo tonnage handled.

Other segments which consist mainly of printing and insertion, digital certificates and Ar-Rahnu, recorded RM111.7 million revenue during the current year, lower by five per cent against FY2020.

On future prospects, the group remains cautiously optimistic of its financial performance for FY2022 by capitalising on opportunities, while transforming and strengthening its core.

It anticipates growth in FY2022 in its retail, international, logistics and aviation businesses with the opening up of businesses and borders supported by increased demand for consumer products, manufacturing parts and cargo volume.

"We are on-track with our turnaround and transformation initiatives aimed at improving service levels and cost efficiencies, increasing yields and focusing on incremental volume gains from the Business-to-Consumer (B2C), Direct-to-Consumer (D2C) and Business-to-Business (B2B) segments.

"We are making good progress with our initiatives, with service levels at an all-time high, on top of steady improvements in all key operational building blocks and business drivers,” said Pos Malaysia. — Bernama