Pos Malaysia’s profits up 55%

Pos Malaysia’s profits up 55%

Pos Malaysia Bhd’s net profit increased by 55% to RM34.8m for the third quarter (Q3). Revenue for Q3, which ended 31 December 2016, was RM635.7m, up 28.5% on last year.

Pos Malaysia’s courier segment registered a revenue of more than RM510m, up from RM408m in Q3 2016. The increase was driven by a surge in demand from the e-commerce and online business.

Postal services revenue was down, due to the ongoing decline in traditional mail volume.

Meeanwhile, the group chief executive officer Datuk Mohd Shukrie Mohd Salleh said the postal group’s efforts to transform itself into a one-stop integrated logistics services provider are on track.

The CEO said that the group is “expected to be fully e-commerce ready by middle of 2017 when we would be able to offer more a comprehensive suite of e-fulfilment services including cash on delivery payment options and warehousing, and pick and pack services.”

 

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