KUALA LUMPUR (Aug 17): Pos Malaysia Bhd’s net profit grew 19% to RM37.91 million for its first quarter ended June 30, 2017 (1QFY18), compared with RM31.84 million in the previous year. The earnings growth was attributed to higher contribution from its courier segment, international division and its newly acquired logistics and aviation business.

Quarterly revenue expanded 47% to RM611.63 million from RM415.87 million a year ago. Its logistics and aviation business, which was acquired in the third quarter of 2016, contributed RM164.4 million.

In a filing with Bursa Malaysia, the postal group said its international revenue more than doubled in the quarter under review due to increase in volume seen in transhipment despite intensified competition.

The courier segment also performed well with an 11% increase in revenue, reflecting higher demand from e-commerce activities, the group said.

Postal services, however, recorded lower revenue, as a result of a decline in traditional mail volume.

On its prospects for the year, the group remains positive given the growth of e-commerce, the key driver of Pos Malaysia’s revenue growth.

“We are confident that our value proposition as a fully-integrated e-commerce logistics player will continue to become more valuable as e-commerce continues its growth trajectory in Malaysia and the region,” said Pos Malaysia’s group chief executive officer Datuk Mohd Shukrie Mohd Salleh, in a statement today.

Pos Malaysia share price gained seven sen or 1.37% to RM5.19 today, with a market capitalisation of RM4.06 billion.