Pos Malaysia posts lower net loss for 1Q at RM30.37mil

KUALA LUMPUR: National courier service Pos Malaysia Bhd recorded a lower net loss in the first quarter ended March 31, 2022 (Q1 FY22) at RM30.37 million from RM46.78 million a year ago.

Revenue decreased by 18.6 per cent to RM484.35 million from RM595.28 million a year ago, driven primarily by fewer parcels as a result of a slowdown in online orders on the back of easing COVID-19 movement restrictions and the resulting change in consumer behaviour.