Pos Malaysia has relased quarter two results where it recorded a revenue of RM443.4 million and losses of RM55.2 million. The national courier service provide saw its losses double this quarter compared to the same quarter last year.

Commenting on the results, the group said the decrease of revenue in postal segment by 10% was recorded by the drop
in bulk mail volume handled and lower international volume during the quarter. Loss before tax was higher mainly from the lower revenue recorded compared to in Q2 FY2023.

The aviation segment contributed higher revenue of RM88.0 million compared to RM73.1 million in Q2 FY2023. This is mainly attributable to the in-flight catering business with higher number of meals uplifted. Despite of higher revenue, profit before tax was lower due to higher operating cost related to cargo handling business and e-commerce warehousing.

As for the logistics segment, the division registered lower revenue at RM67.2 million compared to RM79.9 million in Q2 FY2023. The decrease is mainly from automotive and freight management business due to the lower volume handled.Loss before tax was mainly due to lower revenue from major customer while the operating costs remains fixed.

On a year to date basis, the group recorded a revenue of RM935.4 million and loss before tax of RM66.5 million for the financial period ended 30 June 2024.