Update Pos Malaysia 2Q profit rises 30%, pays 8 sen dividend

by **Cals** Fri 22 Nov 2013, 22:50

Update Pos Malaysia 2Q profit rises 30%, pays 8 sen dividend

Business & Markets 2013

Written by Chong Jin Hun of theedgemalaysia.com

Friday, 22 November 2013 18:42

KUALA LUMPUR (Nov 22): Pos Malaysia Bhd posted a 30% increase in second quarter net profit from a year earlier. This came on higher income from its mail and courier operations.

In a statement to the bourse today, Pos Malaysia said net profit increased to RM39.55 million in the quarter ended September 30, 2013 (2QFY14) from RM30.43 million. Revenue climbed to RM316.98 million from RM300.45 million.

Pos Malaysia said its mail segment revenue rose on "registered mail, direct mail, and international mail combined with lower operating expenditures incurred mainly on depreciation and amortisation."

The firm said its courier unit had registered higher revenue from "on demand, contract customers, express mail and prepaid box / envelope, which is in line with the increase in volume due to higher online transactions for business and extended service counter hours at certain PosLaju centres in the Klang Valley."

Pos Malaysia's cumulative first half net profit rose to RM82.7 million from RM67.21 million a year earlier. Revenue was higher at RM672.79 million versus RM611.76 million.

The company said it plans to pay an interim dividend of eight sen a share less 25% income tax.

Looking ahead, Pos Malaysia said outlook for FY14 remains positive.

This is in anticipation that sustained domestic demand will bode well for the company's business.

"This growth augurs well for demand of Pos Malaysia’s offerings such as in the areas of courier, parcel, financial services, insurance and logistics.

"Pos Malaysia’s 5-year strategic plan is very much on track and showing encouraging results," the firm said.