Pos Malaysia slides 1.86% on weaker earnings
KUALA LUMPUR: Shares in Pos Malaysia Bhd fell 1.86% this morning after it posted a net loss of RM15.1 million in the quarter ended June 30, 2019, compared with a net profit of RM4.98 million in the corresponding quarter a year ago.
This marks its fourth consecutive quarterly loss. Revenue slipped 3% to RM572.95 million, from RM590.46 million before.
At 9.14am, Pos Malaysia fell 3 sen to RM1.58 for a market capitalisation of RM1.24 billion.
Pos Malaysia attributed the lower earnings to its weak postal services results, hit by the decline in traditional mail volume, due to electronic substitution.
The Edge
