Pos Malaysia falls 7.81% on 2Q loss

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KUALA LUMPUR (Nov 22): Pos Malaysia Bhd shares fell 7.81% this morning after it posted a net loss of RM16.58 million or 2.12 sen per share in the second quarter ended Sept, its first quarterly loss in nearly 10 years.

At 9.07am, Pos Malaysia fell 25 sen to RM2.95 with 93,700 shares done.

In the corresponding period last year, the company had posted a net profit of RM18.83 million or 2.41 sen per share.

Revenue for the quarter was flat at RM588.73 million.

For the cumulative six months, Pos Malaysia made a net loss of RM11.6 million or 1.48 sen per share, against a net profit of RM54.75 million or 6.99 sen per share last year. Cumulative revenue slipped slightly to RM1.18 billion from RM1.2 billion.