Courier, logistics and aviation segments expected to drive growth for Pos Malaysia

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SHAH ALAM (Aug 29): Pos Malaysia Bhd expects its courier segment, as well as logistics and aviation segments, to be the main drivers of its performance in its financial year ending March 31,2019 (FY19).

Its group chief executive officet Al-Ishsal Ishak said the group expects the courier segment to continue to register the compound annual growth rate (CAGR) of 15% to 20%.

For the logistics and aviation segment, Al-Ishsal believes Pos Malaysia will continue to benefit from the growing economy and tourism space. He also expects the group to benefit from the new SUV car model from Proton.

"I am hoping not (to repeat the 1QFY19 results), but i can't say for sure, but we are working hard," he told reporters, after its annual general meeting today.

The group's net profit for its first financial quarter ended June 30, 2018 (1QFY19) plunged 86% to RM4.98 million, from RM35.92 million a year ago, due to lower revenue from its postal services segment, coupled with increased costs. Quarterly revenue also fell 3% to RM590.46 million, from RM611.63 million in 1QFY18.

At 2.33pm, Pos Malaysia shares were up three sen or 0.83% at RM3.65, for a market capitalisation of RM2.86 billion.