POS M'sia's shares fall 7.05pc
Published on: Tuesday, May 26, 2015
Kuala Lumpur: Pos Malaysia's shares fell 7.05 per cent or 35 sen after posting a weak performance for the financial year ended March 31, 2015.As at 3.42 pm Monday, its shares stood at RM4.59 with 1.39 million transacted.For the 2015 financial year, Pos Malaysia's pre-tax profit was lower at RM181.31 million from the RM223.39 million recorded in the 2014 financial year on the back of higher revenue of RM1.5 billion from RM1.43 billion previously.
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In a note, Kenanga Research downgraded Pos Malaysia's 2016 financial year net profit estimates by 19 per cent, taking into account higher operating expenses and lower volume growth. – BernamaThe research house also downgraded its target price for the company to RM4.11 from RM4.44 previously, while maintaining an "underperform" call on the stock. – Bernama