The cost of sending a standard letter is set to rise 5c, an increase New Zealand Post puts down to escalating costs and the fact fewer of us are sending letters.
From April 5 it will cost 45c to send a standard domestic letter. Letters sent FastPost will cost 90c, 10c more.
The 5c increase for standard letters alone could boost New Zealand Post’s coffers by about NZD20 million a year.
Read MoreNew Zealand Post has bought out W H Smith to take full control of franchise retailer Books and More.
NZ Post retail group manager Terence Delaney said the deal to buy the other 50 per cent of the business was consistent with the state-owned postal company’s investment plan of having a majority shareholding to create a “consistent strategy” across the network. The brand was also a good fit with NZ Post’s retail businesses.
Read MoreThe state-owned mail agency posted a 24% rise in after-tax profit in the last financial year, thanks to diversifying its business, NZ Post chief executive officer John Allen said yesterday.
While visiting the Taranaki Mail Centre in New Plymouth — which handles 35 million items of mail a year — Mr Allen said that despite the use of the Internet, business mail was becoming more popular.
Business mail helped NZ Post make an after-tax profit of $27.1 million for the year ended June 30.
Read MoreNew Zealand Post Annual Report 2003
Read MoreState-owned mail agency New Zealand Post announced a 24% rise in after-tax profit to $27.1 million for the year ended June 30.
Operating revenue rose by 1.9% to $976.9 million compared with the previous year, expenses held steady at $922.8 million, and NZ Post paid a total dividend of $16.2 million to the Government, up from $13.1 million the previous year.
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