Post Malaysia reports Q2 earnings

Post Malaysia reports Q2 earnings

Pos Malaysia Berhad, Malaysia’s national post and parcel service provider, has announced its Q2, 2023 results with a revenue of RM465.2 million for the three months ending 30 June 2023, this contrasts to MYR 517.26 million a year ago.

However Post Malaysia saw an improvement of 14.4% in their Loss Before Taxes at RM20.8 million versus the first quarter of 2023.

Pos Malaysia Berhad’s Group Chief Executive Officer, Charles Brewer said, “We are fully focused on improving our financial performance, embracing digital technology, enhancing the customer journey and championing sustainability for a greener and cleaner future. Our unwavering focus is on creating a business model that prioritises the welfare of our employees, customers, and the environment.”

“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. Our Q2 2023 improvement over Q1 2023 reflects the hard work by all Pos Malaysia employees and our continued focus on our transformation plan.”

Commenting on the outlook for the rest of the year, Charles said, “We have made considerable progress in executing our transformation plan, and I am very proud of all of our Pos Malaysia Wiras. 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%. Going forward, while the headwinds will likely persist, we are cautiously optimistic and anticipate an improved result for the Group in 2023. 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 added.

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