NZ Post Profit Up, Cheaper Stamps Possible
New Zealand Post says its half-year profit is up 10 percent for the six months to December.
The state-owned postal operator says the rise in profit to $38.2 million is underpinned by the strong success of Kiwibank and a joint venture, Express Couriers.
NZ Post chief executive John Allen says Kiwibank has doubled its after-tax profit to $11.4m – up from $5.4m for the same period in 2005.
Mr Allen says domestic postal services continue to fall steeply and are down by 2.9 percent, but international mail items continue to grow. He says the company continues to promote the use of postal services.
Mr Allen says the company is confident it will deliver continuing growth for the rest of the financial year.
