KUALA LUMPUR: Pos Malaysia Bhd
says its outlook remains challenging as macroeconomic headwinds are expected to further depress the already soft post-pandemic eCommerce market.
Announcing the third quarter ended Sept 30 (3Q22) results of the postal service operator, group CEO Charles Brewer said the accelerated in-sourcing by eCommerce marketplaces, aggressive pricing practices and “masking” continue to put pressure on parcel volumes for courier and logistics players in the country.
“Pos Malaysia will continue to leverage our unparalleled reach to grow market share in the right segments, as well as take the appropriate actions to ensure that the current macroeconomic headwinds are best mitigated,” he said in a statement yesterday.
For 3Q22, Pos Malaysia narrowed its net loss to RM33.63mil, as compared to a net loss of RM43.9mil in the year-ago quarter.
Basic loss per share was down to 4.3 sen versus 5.61 sen in the previous corresponding quarter.
The group reported revenue of RM492mil for the period, down some 8% year-on-year from RM536.26mil in 3Q21.
Over the nine months (9M22), the group posted a net loss of RM69.25mil, which was 67% lower y-o-y than the net loss of RM212.5mil it booked for the same period a year ago.
Revenue for 9M22 stood at RM1.49bil compared with RM1.67bil in 9M21.
