State-owned New Zealand Post made a net profit of $19.6 million in the six months to December, up 22.5 per cent on the second half of 2001.
Acting chief executive John Allen said yesterday that a 0.6 per cent increase in domestic mail volumes, driven by high business mail volumes, contributed to the result.
Domestic mail volumes increased by 0.8 per cent over the past 18 months, arresting a two-year decline.
Read MoreFormer NZ Post chief executive Elmar Toime has started his new job as executive deputy chairman at Britain’s Royal Mail.
His last day at NZ Post was late last week. His deputy John Allen has taken the helm while an international search is undertaken to find a replacement.
Read MoreNew Zealand Post No 2 John Allen is a strong contender to replace outgoing boss Elmar Toime in the $770,000-a-year job, according to sources close to the company.
Mr Toime said last week that he would leave New Zealand to become Royal Mail executive deputy chairman in Britain on a pay packet understood to be worth $1.5 million.
Mr Allen, letters and enterprises division chief, will act as chief executive if there is no permanent replacement by February, when Mr Toime is expected to leave.
Read MoreElmar Toime, who has just been appointed deputy executive chairman of Royal Mail, was investigated by the New Zealand public accounts watchdog for failing to deal with financial impropriety in the postal organisation he ran. Mr Toime, who, together with new Royal Mail chief executive Adam Crozier, will be Britain’s best-paid public servant, was chief executive of New Zealand Post when its subsidiary Transend was investigated for “wasteful and excessive spending” on expenses. As such, he was one of the executive members of the Transend board. A report, commissioned from Price Waterhouse Coopers by New Zealand Post’s directors, investigated the allegations of impropriety, prior to the watchdog’s involvement.
Read MoreThe chief executive of New Zealand Post, Elmar Toime, is leaving to take a top job with British postal giant Royal Mail Holdings.
His resignation was announced late last night, just days after Opposition MPs demanded that he quit after the Auditor-General uncovered extravagant spending by senior staff of the taxpayer-owned NZ Post subsidiary Transend Worldwide.
Mr Toime _ who earned about $770,000 a year at NZ Post _ was on the Transend board with managing director Drew Stein, and as CEO of NZ Post had overall responsibility for Transend’s operation.
Read More
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
