In a statement to the media today, the group said the 17.1% decrease in losses was achieved despite a 4.6% drop in revenue to RM1.87 billion compared with the previous financial year.

For the fourth quarter (Q4), the group recorded a year-on-year (y-o-y) decline of 1.21% in revenue to RM461.6 million.

However, it also saw a y-o-y reduction of 35.9% in losses to RM66.5 million for the same quarter.

Pos Malaysia said the improvement was achieve amid challenges such as macroeconomic uncertainties and a resurgence in physical shopping by consumers, which reduced the need for its parcel service.

However, its group CEO Charles Brewer said, enhanced yields, asset optimisation, stringent cost management and transformation led to its improved performance.

“We are focused on executing our transformation strategies, streamlining unprofitable segments, advancing margin-led businesses, championing sustainability and aligning with our ESG roadmap,” he said.

He added that the group will also stay focused on its employees and customers.

Among the group’s subsidiaries, he said, Pos Aviation will benefit from escalating demand for air travel, ground handling services and in-flight catering.

At the same time, Pos Logistics is realigning its focus towards the automotive sector, third-party logistics and warehousing to ensure it remains relevant in a rapidly evolving market.

Brewer said significant growth is also expected in its Islamic pawnbroking business while its margin-led new businesses such as e-fulfilment and convenience store Pos Shop will be expanded.

Pos Malaysia’s share price closed at 51 sen today, down a sen from yesterday.