Pos Malaysia’s net loss widens to RM121m in Q2FY2021

Pos Malaysia said the weaker performance was due to a decrease of revenue in the postal segment by nine per cent which is primarily contributed by the drop in postal services following the decrease in mail and parcel volume handled especially from contract customers. — Bernama pic
Pos Malaysia said the weaker performance was due to a decrease of revenue in the postal segment by nine per cent which is primarily contributed by the drop in postal services following the decrease in mail and parcel volume handled especially from contract customers. — Bernama pic

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KUALA LUMPUR, Aug 16 — Pos Malaysia Bhd’s net loss widened to RM121.84 million in the second quarter ended June 30, 2021 (Q2FY2021) from RM19.02 million in the same period last year.

Revenue fell to RM533.89 million from RM606.08 million previously.

Pos Malaysia said the weaker performance was due to a decrease of revenue in the postal segment by nine per cent which is primarily contributed by the drop in postal services following the decrease in mail and parcel volume handled especially from contract customers.

“Apart from the lower revenue generated, higher loss registered for Postal segment was contributed by impairment of property, plant and equipment and higher transportation and delivery cost incurred,” it said in a filing with Bursa Malaysia today.

For the sixth-month period ended June 30, 2021, Pos Malaysia’s net loss widened to RM168.63 million from RM68.24 million registered a year ago while revenue went down to RM1.13 billion from RM1.16 billion previously.

On prospects, it said Pos Malaysia remained cautious on the challenging operational performance for the current financial year ending December 31, 2021 whilst continuing to take appropriate steps to ensure the near-term prospects remained stable. — Bernama

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