KUALA LUMPUR: Pos Malaysia Bhd succumbed to selling pressure in early morning trade on the back of a disappointing earnings announcement.
At 9.35am, the counter was down 25 sen or 7.5% to RM2.96 a share on 371,400 units traded.
The company posted a net loss of RM16.58mil in its second quarter ended Sept 30, 2018, from a net profit of RM18.83mil in the previous corresponding quarter.
According to a stock exchange filing, the net loss was due to the lower revenue registered from postal services and the international and logistics segments, coupled with the increase in the cost of sales and operating expenses as well as finance costs.
Already a subscriber? Log in.
Limited time offer:
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!