Pos Malaysia net loss improves in Q2 2022

Pos Malaysia recently announced that in the second quarter ended June 30, 2022, its net loss narrowed to 5.25 million ringgit from 120 million ringgit in the same period last year (1 ringgit is about 1.5 yuan, the same below); Operating income fell 3.1% to 517 million ringgit from 530 million ringgit.

Pos Malaysia attributed its improved performance to better customer mix and yields, as well as effective cost management, which resulted in lower shipping and delivery costs. Chief executive Charles Brewer said the company had been transforming from 12 months ago and had begun to produce positive results. Currently, the performance of Pos Malaysia's mail and parcel business has improved, and the aviation and logistics sectors have also shown signs of recovery, and the outlook remains positive.

Brewer said the company is cautiously optimistic about continued improvement in fiscal 2022, which ends at the end of the year. Going forward, will continue to focus on delivering a profitable package and retail business, transforming the core business, optimizing the profit-driven business, continuing to focus on balancing a well-executed customer portfolio, improving yield, and managing costs while delivering market-leading service .