NZ Post “on target to return a modest profit”
NZ Post reports half year Net Profit of $33 million.
NZ Post Chief Executive David Walsh says this improvement reflects continued momentum toward commercial sustainability.
“This result was achieved despite the backdrop of a slow economy, with revenue improving by 3.7%. Alongside this, ongoing tight cost control and efficiencies from our investment in automation saw total operating costs reduce by 1.2%,” says Walsh.
“NZ Post is on target to return a modest profit at the FY26 full year, noting that the seasonal nature of revenues and volumes sees the Group earnings profile weighted toward the first half of the financial year.”
Key highlights during the reporting period include:
- Successful ‘Peak’ period, delivering 17.1 million parcels throughout November and December
- Completion of multiyear parcel processing infrastructure and automation investment programme
- Finalisation of changes to the Deed of Understanding providing flexibility to respond to ongoing mail decline, with initial focus on urban retail
- Successful production and delivery of Local Government Election materials through NZ Post and Datam
“NZ Post is committed to continuing to deliver a year-on-year earnings improvement by maintaining our focus on efficiency, strong cost controls and working with our customers to deliver exceptional products and services.”
“With seasonally lower volumes in the second half of the year, achieving our full year targets will require ongoing strong cost discipline and continued realisation of benefits from our investments in automation,” says Walsh.
