Pos Malaysia Berhad announced its financial results for the third quarter of fiscal year 2024, reporting a revenue of RM459 million, marking a 3.6 percent increase compared to Q2 in the same year.

Despite a loss after tax of RM49.8 million, the company said it sees improvement of 21.1 percent from Q2 2024, however this was lower compared to year on year (Q3FY23) result of RM33.3 million in losses.

The group saw positive momentum in the postal segment fuelled by improved parcel volumes, bolstered by market share gains and a dedicated focus on cost management and network optimisation. Pos Aviation on the other hand anticipates continued year-on-year uplift growth, driven by increased flight operations, a surge in demand for in-flight catering, and growth in cargo handling and aviation engineering services. This segment is well-poised to capitalise on the rising travel and logistics demands.

While Pos Logistics faced challenges in Q3 due to unrealised foreign exchange losses, the segment is actively pursuing new business opportunities and expanding its market share in the automotive sector, alongside enhancements to its freight forwarding services. Pos Malaysia Group said it remains committed to its strategic transformation with ongoing efforts to drive
growth, innovation, and diversification across its business segments.

"Whilst still a very challenging environment, we are pleased to see improvements across our key segments, particularly in postal and aviation, as we continue to execute our transformation strategy," said Charles Brewer, Group CEO of Pos Malaysia.