KUALA LUMPUR: Pos Malaysia Bhd says its performance outlook remains challenging as macroeconomic headwinds are expected to further depress the already soft post-pandemic e-commerce market.
Announcing the 3Q results of the postal service operator, group CEO Charles Brewer added that accelerated in-sourcing by e-commerce marketplaces, aggressive pricing practices and "masking" continue to put pressure on parcel volumes for courier and logistics players in the country.
"Pos Malaysia will continue to leverage our unparalleled reach to grow market share in the right segments, as well as take the appropriate actions to ensure that the current macroeconomic headwinds are best mitigated," he said in a statement.
For 3Q'FY22, Pos Malaysia narrowed its net loss to RM33.63mil, as compared to a net loss of RM43.9mil in the year-ago quarter.,
Basic loss per share was down to 4.3 sen from 5.61 sen in the previous corresponding quarter.
The group reported revenue of RM492mil, down from RM536.26mil in the comparative quarter.
Over the nine months to Sept 30, 2022, the group posted a net loss of RM69.25mil, less than a third of the net loss seen in the same period in 2021.
Revenue was RM1.49bil compared with RM1.67bil in 9MFY21.
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