KUALA LUMPUR: Pos Malaysia Bhd
, which posted a smaller net loss of RM123.2mil in the fourth quarter ended Dec 31, 2021 (4Q21), remained cautiously optimistic of its monetary efficiency in FY22.
“We remain cautiously optimistic of our financial performance for the financial year 2022 by capitalising on opportunities, whilst transforming and strengthening our core.
“We project growth in the financial year 2022 in our retail, international, logistics and aviation businesses with the opening up of businesses and borders supported by increased demand for consumer products, manufacturing parts and cargo volume,” Pos Malaysia stated in the notes accompanying its monetary outcomes.
It stated the aggressive competitors from new entrants and insourcing of logistics from the purchasing platforms are anticipated to impression the efficiency of its courier enterprise whereas the mail enterprise is predicted to proceed to decline on the again of rising digitalisation.
“We are on-track with our turnaround and transformation initiatives aimed at improving service levels and cost efficiencies, increasing yields and focusing on incremental volume gains from the business-to-consumer, direct-to-consumer and business-to-business segments,” Pos Malaysia stated.
In 4Q21, Pos Malaysia’s income fell about 3% to RM528.59mil in opposition to RM544.63mil in the identical interval a 12 months earlier.
For the monetary 12 months ended Dec 31, Pos Malaysia recorded the next loss earlier than tax of RM331.4mil in contrast to RM303.5mil final 12 months.
It stated the upper loss was primarily due to decrease income by RM138.2mil and impairment of property, plant and gear of RM53.1mil however softened by no additional impairment on goodwill as opposed to RM123.3mil impaired final 12 months.
