Pos Malaysia Bhd saw fourth-quarter net profit rise more than four-fold to RM25.07 million from RM6.08 million a year ago, driven by income from its mail and courier business segments.
Revenue rose 4.4 percent to RM289.63 million for the quarter ended December 31, 2011, from RM277.33 million a year earlier.
For the 12-month period, net profit was RM112 million, up 66.9 percent from RM67.11 million in 2010.
Pos Malaysia attributed the strong growth to the impact of domestic tariff increase commencing July 1, 2010, coupled with the benefits realised from its transformation initiatives.
“This was supported by revenue of RM1.17 billion, an increase of 15.6 percent from RM1.01 billion in the preceding year,” it said in a filing with Bursa Malaysia yesterday.
“With the new tariff structure for its regulated mail products and the ongoing transformation initiatives, the board of directors is optimistic that the group’s performance will be favourable during the (current) financial year,” it added.
Pos Malaysia has changed its financial end of the year from December 31 to March 31. Therefore, the financial statements of the group will be covering a 15-month period ending March 31 2012.
For the 12-month period of 2011, Pos Malaysia’s mail segment showed a 33.1 percent increase in operating profit to RM150 million due to increase in mail revenue, particularly prepaid by 29.5 percent, franking (6.9 percent), registered mail (9 percent) and ordinary mail (3.1 percent) revenue.
Operating profit from the courier business also increased by 56 percent to RM30.07 million due to increase in on-demand customers revenue and contract customers, mitigated by lower parcel and express mail revenue.
However, its retail business segment reported an operating loss of RM37.93 million as the profit performance was impacted by salary increase of staff from July 1, 2010.