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Pos Malaysia looks forward to improved 2023 performance

23 Aug 2023, The Star

KUALA LUMPUR: Pos Malaysia Berhad is cautiously optimistic and anticipates an improved result for the group in 2023, according to group chief executive officer Charles Brewer.

“We remain focused on delivering on our purpose statement, to be passionate about building trust to connect lives and businesses for a better tomorrow,” he said in a statement.

Brewer noted that the group has made considerable progress in executing our transformation plan.

As an example of the progress made, in the recent courier challenge survey commissioned by MCMC, Pos Malaysia rated an impressive 96% for guaranteed delivery performance compared to the courier industry average of 78%, he said.

The postal and parcel service provider’s net loss widened to RM27mil in 2Q23 compared with RM5.2mil last year.

Its revenue fell 10% to RM465.2mil from RM517.2mil a year prior while loss per share stood at 3.45 sen from 0.67 sen last year.

In the first half to June 30, Pos Malaysia registered a net loss of RM54.7mil on revenue of RM947.5mil.

“Our second quarter ended June 30 (2Q23) improvement over 1Q23 reflects the hard work by all Pos Malaysia employees and our continued focus on our transformation plan,” Brewer said.

He said that the group is focused on improving its financial performance, embracing digital technology, enhancing the customer journey and championing sustainability for a greener and cleaner future.

"We operate in a very challenging environment, and we will continue to navigate those challenges by focusing on our variable costs, network rationalisation and commercial workstreams,” he added.

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