KUALA LUMPUR: Pos Malaysia Bhd
group CEO Charles Brewer said the postal service provider's transformation is progressing well with improvements seen across all dimensions.
"In part the improvement can be attributed to solid cost control measures and improving productivity, but also a reflection of market share gains and ongoing yield improvement programs in the courier sector," he said in a statement in conjunction with the release of the comapany's latest earnings results.
For the first quarter of the year, the group narrowed its net losses to RM27.66mil from RM30.37mil in the same quarter in 2022.
This represents a loss per share of 3.53 sen as compared with 3.88 sen a year ago.
Meanwhile, the group's revenue was slightly lower at RM482.27mil from RM484.35mil in 1QFY22.
According to Pos Malaysia, it remains faced with continued industry-wide challenges related to macro-economic uncertainty, intense competition, insourcing and "masking" by the larger e-commerce platforms.
“While we will continue to focus on adapting and transforming the business to this challenging and changing environment, the group remains forward-looking.
"We are focused on technology, the customer journey, and sustainability for a greener and cleaner future, delivering a business model that is both employee, customer, and planet centric," said Brewer.
He added that the group remains cautiously optimistic it will deliver improved results in 2023.
