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

PETALING JAYA: 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.