This marked the national postal and courier service provider’s 20th consecutive quarterly net loss, increasing its loss per share to 3.45 sen from 0.67 sen.

Group revenue fell 10.06% to RM465.2 million from RM517.26 million in the same period last year, Pos Malaysia said in a filing with Bursa Malaysia today.

For the first six months ending June 30, its net loss soared 53.48% to RM54.67 million from RM35.62 million in the corresponding period last year as revenue fell 5.41% to RM947.47 million from RM1 billion.

Tycoon Syed Mokhtar Al-Bukhary has a controlling interest in Pos Malaysia via his 53.49% stake, according to the postal service provider’s 2022 annual report.

Optimism amid persistent headwinds

Group CEO Charles Brewer expressed cautious optimism and foresees a more favourable outcome for the group in FY2023.

“We operate in a very challenging environment, and we will continue to navigate those challenges by focusing on our variable costs, network rationalisation and commercial workstreams,” said Brewer in a separate statement today.

“We are fully focused on improving our financial performance, embracing digital technology, enhancing the customer journey and championing sustainability for a greener and cleaner future,” he said.

He added the group’s key focus is on creating a business model that prioritises the welfare of its employees, customers, and the environment.

At the close of trade, Pos Malaysia’s share price was down half-a-sen or 0.93% to 53 sen, valuing the group at RM411 million.