Pos Malaysia sets 2010 targets

Pos Malaysia has set its 2010 key performance indicator (KPI) targets where it has projected revenue of RM930m for the financial year ending Dec 31 (2010), a 3% increase over 2009’s achievement, reports The Star. The article continues:

Other KPI targets for the year include a dip in earnings before interest, taxes, depreciation, and amortisaton (EBITDA) to RM110m and lower return on assets (ROA) of 3.3% to 4%.

In a statement to Bursa Malaysia yesterday, Pos Malaysia said it was expecting revenue growth “taking cognisance of improving economic growth in 2010.”

“The group’s growth for 2010 will be underpinned by strategic alliances with other postal operators and global integrators, higher sales of motor insurance and new financial services offered,” it said.

On its lower EBITDA forecast, Pos Malaysia said operating expenses were expected to increase significantly in light of increasing staff costs, depreciation and other operating expenses.

The lower ROA forecast was due to lower operating profit projected in 2010 in line with higher operating expenses, it said.

Meanwhile, for 2009, Pos Malaysia posted revenue of RM903m, lower than its headline KPI target by RM37m or 3.9% due to lower revenue from most business segments amidst a difficult economic climate.

EBITDA for the period was RM132m against a target of RM130m while ROA was 5.9%, higher than its headline KPI target by 1.4 percentage point.

“The EBITDA is above by RM2m, or 1.5%, attributed to reduction in operating expenses (net of depreciation and amortisation), which mitigated the lower revenue achieved,” Pos Malaysia said.

It said the higher ROA was in line with the slightly higher operating profit recorded against target coupled by the slightly lower asset base against projection.