Username
Password
Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,212.96 +12.78 +0.40%
Hang Seng 29,409.01 +396.75 +1.37%
Dow Jones 25,860.60 +11.73 +0.05%
Shanghai Composite 3,096.42 +74.67 +2.47%
Pos Malaysia 2Q16 Net Profit Plunges 90%
Malaysia Daily Bulletin | 24 November 2015
By:
  • Pos Malaysia’s 2Q16 earnings sank 89.8 percent to RM3.5 million, attributable to lower mail and retail segment profits contributed by higher transportation cost for transshipment business and recognition of expired postal order in 2Q15.
  • In contrast, revenue for the quarter rose 7.3 percent to RM398.8 million due to higher revenue from the mail and courier segments, with the latter driven by higher demand from e-commerce.
  • For the six-month period, turnover increased 6.6 percent to RM789.2 million while net profit declined 57.1 percent to RM26.2 million.

Significance: Going forward, the company said its revenue growth will be mainly driven by the growth in products and services related to e-commerce, namely courier, small packets and parcels products, but noted that the softening near-term economic and market sentiments are expected to be challenging for its prospects.


Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.