KUALA LUMPUR, Aug 24 — Pos Malaysia Bhd’s net profit fell 86.13 per cent year-on-year (y-o-y) to RM4.98 million for the first quarter ended June 30, 2018 (Q1) from RM35.88 million previously.
Revenue also declined 3.46 per cent y-o-y to RM590.46 million from RM611.63 million previously.
In a filing with Bursa Malaysia today, Pos Malaysia attributed the weaker performance for the period under review to the lower revenue from its postal services and logistics segments.
“Mail volume decreased by 10 per cent y-o-y, which resulted in an 11 per cent drop in revenue for the postal services segment, while pre-tax profit declined to RM13 million from RM43 million previously,” it said.
Meanwhile, Group Chief Executive Officer Al-Ishsal Ishak said the courier segment registered a double-digit growth with revenue increasing by 13 per cent y-o-y in Q1, adding that the company would continue to invest in technology and business process optimisation initiatives to improve the Pos Laju omni-channel customer experience. — Bernama
