Pos Malaysia sees second half to remain challenging

Pos Malaysia group CEO Charles Brewer

KUALA LUMPUR: With the ongoing economic uncertainties and changing consumer behaviour, Pos Malaysia Bhd expects the second half of the year to be equally challenging.

As a result, the postal group will continue to focus on a balanced execution of good customer mix, improving yields, managing costs, whilst delivering a market-leading service, and ensuring an optimum customer experience at every touch point.

Group chief executive officer Charles Brewer said the transformation journey the postal group embarked upon 12 months ago is starting to yield positive results and recognised it still has much to do.

“We will continue to be laser-focused on executing our strategy, focusing on having safe, very happy and engaged employees, delivering a great service and delighting our customers,” Brewer said in a statement.

In addition to seeing improving results from its mail and parcel businesses, the aviation and logistics segments are also seeing signs of recovery while the outlook remains positive.

“We are cautiously optimistic that our financial performance for FY2022 will show continued improvement as compared to FY2021.

“We will continue to focus on delivering a profitable parcel and retail business, transforming the core operation, optimising for margin-led businesses and ensuring we are well-placed for a better future,” Brewer said.

In the second quarter ended June 30, Pos Malaysia posted a smaller net loss of RM5.25mil against a net loss of RM121.84mil a year ago.

Revenue for the period fell 3% to RM517.26mil from RM533.9mil a year prior while loss per share stood at 0.67 sen from 15.57 sen previously.

In the first six months to June 30, Pos Malaysia posted a smaller net loss of RM35.62mil versus RM168.63mil last year while revenue dropped 11.3% to RM1bil against RM1.13bil previously.

Pos Malaysia attributed its improved performance to better customer mix and yield, and effective cost management, which resulted in lower transportation and delivery costs.