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Pos Malaysia delivers strong results

Pos Malaysia's results were boosted by the inclusion of the newly acquired logistics business and strong growth of its courier business. - Bernama pic
PETALING JAYA: Pos Malaysia Bhd’s earnings for the first quarter ended June 30 rose by 19.1% year-on-year (y-o-y) to RM37.9mil on the back of 47.1% higher revenue of RM611.6mil.

The postal services company said the boost in its results was due to the inclusion of the newly acquired logistics business and the strong growth seen in its courier business. 

“The revenue growth in the first quarter of our current financial year was largely driven by the inclusion of revenues from the Pos Aviation Group (formerly KL Airport Services Group) that was completed in September 2016,” its chief executive officer Datuk Mohd Shukrie Mohd Salleh said in a press release.

“We are confident that our value proposition as a fully-integrated e-commerce logistics player will continue to become more valuable as e-commerce continues its growth trajectory in Malaysia and the region going forward,” he added.

Pos Malaysia’s courier segment recorded higher quarterly revenue of RM180.9mil compared to RM162.8mil in the previous corresponding period. 

The company said this built on the upward performance seen in the previous year, and was mainly driven by the increased demand in e-commerce as well as online business customers.

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