The Changing Face of Sales and Payment – Channels in Commercial Postal Environments
The Changing Face of Sales and Payment – Channels in Commercial Postal Environments
Read MoreTag: New Zealand
New Zealand Post: Deed of Understanding results
New Zealand Post: Deed of Understanding results
Read MoreNew Zeland Post: continuing growth
The New Zealand Post Group has announced a net after-tax profit of USD 70.2 million for the year ended 30 June 2007, compared to USD 68.7 million in 2005/06 year.
Chief Executive John Allen says the result represented a sound performance and was the sixth consecutive year in which an improvement in financial performance has been announced.
“We have had a successful year in an increasingly challenging environment thanks largely to a diversification strategy begun some 20 year ago when New Zealand Post became a State-Owned Enterprise. Today, banking, data management, software development, and express and logistics businesses now complement our postal business.
“As we celebrate our 20th birthday as an SOE, I am pleased to say that our New Zealand Post and Kiwibank brands are amongst the most trusted in New Zealand. Our Posties, Couriers, PostShop people, Mobile Mortgage Managers and Rural Delivery teams bring our brands to life every day for New Zealanders so that they are more than just advertising logos.
“The New Zealand Post Group also experienced 10 pct increases in earnings before interest and taxes (EBIT) and 10 pct growth in revenue.
“Kiwibank’s profit increased 61pct following another strong year in which the Bank acquired the mortgage book of AMP branded mortgages previously held by HSBC along with the Superbank deposit book and 51 pct share of New Zealand Home Loans. These acquisitions significantly enhanced the ability of Kiwibank to both meet the needs of diverse customer segments and support its continuing growth and development.
The 2006/07 result enables the New Zealand Post Group to return a total dividend to the Government – as sole shareholder – of USD 30.8 million & USD 27.7 million in 2005/06).
Read MoreNew Zealand posties win back pay after strikes
Postal workers in New Zealand have been awarded back pay for a period of industrial action in which posties took undelivered mail and put it back in post boxes.
The workers undertook the “secret strike” in July last year as part of a row over an employment agreement, the New Zealand Herald reported.
During the strike the workers went to delivery branches and helped sort the mail in the morning, before taking some of it and re-posting it, preventing it from reaching its destination.
As soon as New Zealand Post worked out what was going on, managers issued suspension notices, stopping the workers from getting paid from the time they began the action.
But the country’s Employment Relations Authority (ERA) on Wednesday ruled that the suspension notices could not be backdated and the workers had to be paid for the time they undertook the action until the notices were issued.
NZ Post said it was not immediately aware the industrial action was occurring, so should have been able to issue the suspension notices from the time it began.
But a member of the ERA said that argument wrongly relied on the notion that an employer was entitled to a notice of intended strike action.
Postal Workers Association organiser Mike Treen said the company was found to have breached the Employment Relations Act.
Treen said the action was limited to not delivering some non-essential mail.
Associate Professor Sean Cooney from the University of Melbourne’s Law School said Australian workers found to have been undertaking illegal activities during strike action would face stiff penalties.
Read MoreNew Zealand Post Annual Report 2006
New Zealand Post Annual Report
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