While the global macro landscape was generally sluggish, the postal industry in particular has been increasingly challenged by widespread adoption of digital technologies. Despite the latter causing shifts in demand for traditional postal services, we registered a resilient performance in the year under review. This was largely due to Pos Malaysia’s preparedness to ride on the digital wave and institutionalise positive change. The Group has been Looking Ahead at various transformation initiatives with the broad objective of maintaining our edge. This has entailed Going Beyond traditional mail offerings to diversify our income stream whilst enhancing the Group’s profit margins.
Pos Malaysia closed the year with record revenue of RM1.27 billion, equivalent to an increase of 7.8% against the preceding year, driven primarily by our courier and retail businesses. Double-digit growth posted by our courier outfit was underpinned by strong on-demand and contract businesses as well as an expanding parcel business in line with the exponential growth of online businesses. Our retail arm, meanwhile, recorded higher revenue per transaction consistent with our strategy of moving up the value chain by venturing into the more lucrative insurance business and financial services, amongst others.