Pos Malaysia Q3 net profit up, thanks to courier arm

KUALA LUMPUR: Pos Malaysia Bhd’s net profit for the third quarter ended Dec 31, 2017 rose 55% to RM34.84 million from RM22.53 million a year ago mainly due to higher revenue generated from the courier segment business.

Its revenue jumped 29% to RM635.72 million compared with RM494.63 million in the previous year’s corresponding quarter.

For the nine months period, the national postal organisation’s net profit was up 51% to RM73.42 million from RM48.74 million a year ago due to profit contribution from courier business as well as on-going operational cost management.

Its revenue saw an increase of 12.7% to RM1.45 billion compared with RM1.28 billion in the corresponding period last year due to the inclusion of the newly acquired logistics business coupled with strong growth in its courier business.

Group CEO Datuk Mohd Shukrie Mohd Salleh said Pos Malaysia’s efforts to transform itself into a one-stop fully integrated logistics services provider is moving along well and it is expected to be fully e-commerce ready by mid-2017, in which Pos Malaysia will be able to offer a more comprehensive suite of e-fulfilment services including cash-on-delivery and credit-card-on-delivery payment options as well as warehousing and pick and pack services.

“In the meantime, we continue to drive innovation in the e-commerce industry by providing market-oriented solutions, for example, our FlexiPrepaid product, a more economical delivery option for those that do not require courier delivery standards, while retaining the proof of delivery feature. Pos Malaysia will continue to develop such e-commerce products for the benefit of both merchants and consumers,” he said in a statement.