South African Post Office makes R135m profit
The South African Post Office made a 135 million rand profit from trading operations for the financial year ended March 2005 – an improvement of 108 million rand on last year.
It was the Post Office’s second year of profitability.
Cash generated from operations amounted to 371 million rand.
Newly appointed CEO, Khutso Mampeule said:”Naturally we are excited to announce the ground breaking financial results, especially because there’s a huge improvement from last year’s financial results.”
“This however must not make us complacent, because the challenge for the Post Office is to work even harder to sustain this turn around.”
Some of the key achievements include the 750 million rand increase in share capital and the increase in capital and reserves of 1.8 billion rand.
Going forward, the key strategic priorities for the Post Office are to achieve operational service excellence and declare war on fraud, corruption and mail violations.
Mampeule said the Post Office wants to broaden the access to postal, financial and other essential link services through an effective network footprint.
“At the Post office we are ready to embrace the rapid technological changes that are currently posing huge future challenges.”
“This does indeed confirm that we are the leading postal operator in the continent,” concluded Mampeule.
