Pos Malaysia’s Q4 profit nearly triples to RM29m on higher contribution from courier biz

Pos Malaysia Bhd’s net profit for the fourth quarter ended March 31, 2018 almost tripled to RM29.03 million from RM9.89 million a year ago, mainly due to higher contribution from the courier business coupled with improved cost management.

Against the same quarter the previous year, its revenue increased 3% to RM653.08 million from RM653.55 million.

For the full year period, Pos Malaysia’s net profit jumped 13.9% to RM93.25 million from RM81.88 million a year ago, while revenue was up 18.7% to RM2.47 from RM2.08 billion.

Pos Malaysia the group’s future performance is mainly driven by the continued growth in e-commerce.

“Technology and e-commerce remains a key platform to spur the growth of small and medium enterprises (SMEs) within the country. As the key player in the e-fulfilment space and with the widest last mile delivery network, the group is a key beneficiary of e-commerce growth in Malaysia. This will also benefit our end-to-end logistics businesses as heightened economic activity should increase the need for our services. Accordingly, we are generally optimistic Pos Malaysia’s prospects remain positive.”

Pos Malaysia’s share price fell 5 sen or 1.4% to close at RM3.55 on some 197,200 shares done.