USD 68.7m profit reported by NZ Post
New Zealand Post on Tuesday posted a net annual profit of USD 68.7 million – 17% up on last year’s result.
The state-owned enterprise says challenges during the year included: rising fuel prices, a tight labour market, tough competition and changes in letter services.
Chief executive John Allen says Kiwibank, which announced last week it had made almost USD 16m, was the star performer for the group, .
However, that result is not factored into the Government’s dividend, which this year will be USD 27.7m.
New Zealand Post says its diversification strategy is reaping rewards, with the Datamail Group and its international postal business, as well as Kiwibank, all performing strongly in its annual result.
Mr Allen says the result has been achieved in a challenging business environment.
