Friday, June 4, 2010

Pos falls on net profit decline

KUALA LUMPUR: POS MALAYSIA BHD []'s share price declined on Tuesday, June 1 after the national courier's net profit plunged to RM1.63 million in its first quarter from RM22.84 million a year earlier.

The decline in net profit was due to the adoption of FRS139 and specifically, the stating of the fair value of its investment in Transmile Group.

At 9.48am, its share price fell four sen to RM2.63 with 27,400 shares traded.

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