Pos Malaysia posts smaller 1Q loss, optimistic about 2024

The company posted a net loss of RM19.7mil in 1Q24, compared with a net loss of RM27.6mil a year earlier.

KUALA LUMPUR: Pos Malaysia Bhd, which posted a smaller net loss in the first quarter ended March 31 (1Q24), remains cautiously optimistic of delivering improved results in 2024.

The national post and parcel service provider posted a net loss of RM19.7mil in 1Q24, compared with a net loss of RM27.6mil in the same quarter last year.

Revenue, however, rose 2% to RM491.9mil against RM482.3mil previously.

Its loss per share stood at 2.52 sen against 3.53 sen a year prior.

Group chief executive officer Charles Brewer said its 1Q results reflected a significant milestone in its sustainable growth and profitability journey.

“Through enhanced yields, a continued focus on optimising our assets, and stringent cost controls, we have successfully navigated challenges while capitalising on the many opportunities that exist.”

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