KUALA LUMPUR – Pos Malaysia Bhd’s net loss widened to RM121.84 million in the second quarter ended June 30, from RM19.02 million in the same period last year.
Revenue fell to RM533.89 million from RM606.08 million previously.
Pos Malaysia said the weaker performance is due to a decrease of revenue in the postal segment by 9%, which is primarily contributed by the drop in postal services following the decrease in mail and parcel volume handled, especially from contract customers.
“Apart from the lower revenue generated, higher loss registered for the postal segment is contributed by impairment of property, plant and equipment, and higher transportation and delivery cost incurred,” it said in a filing with Bursa Malaysia today.
For the sixth-month period ended June 30, Pos Malaysia’s net loss widened to RM168.63 million from RM68.24 million registered a year ago, while revenue went down to RM1.13 billion from RM1.16 billion previously.
On prospects, the company said it remains cautious on the challenging operational performance for the current financial year ending December 31, while continuing to take appropriate steps to ensure near-term prospects remain stable. – Bernama, August 16, 2021
