NZ Post doubles its profit

New Zealand Post has more than doubled its half-year profit, but says that doesn't mean it has "turned the corner".

Net profit of $35.4 million for the six months to December 31 was up $19.6 million from $15.8 million earned in the same period last year.

However, chief executive Brian Roche says the pleasing improvement was not a case of turning the corner.

"New Zealand Post faces the challenge of operating in a flat economic environment with residual effects of the Christchurch earthquake and the ongoing uncertainty in the global economy."

There was still an urgent need to pursue to keep up with plans for a sustainable postal network. This includes growing its subsidiary Kiwibank, creating new digital offerings and keeping the store network fresh.

NZ Post's courier and logistics business made the biggest contribution to revenue, which rose $27.2 to $679.7 million compared to the same time last year.

The traditional postal business was still seeing a decline as New Zealanders posted 29.4 million(or 7%) fewer letters domestically over the period.

New Zealand Post will pay an interim dividend of $2.5 million, compared to $1.8 million last year.

7 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Post Comment

7 Comments & Questions

Commenter icon key: Subscriber Verified

How long will the Govt tollerate results like this from NZ Post?
Mgmt spent around $20m on localist for what return? Nil?

  • 0
  • 0

Everyone says that search engine optimisation is dead, what
do you think about the way ahead for SEO?
Shared this to FB wall, very useful

  • 0
  • 0

With <a href=""><strong>Microsoft Office 2011</strong></a> you can now read <a href=""><strong>Office 2010</strong></a> and manage your feeds and <a href=""><strong>Microsoft Office 2010</strong></a> right from within <a href="">Download Office 2010</a>, the most natural place to <a href=""><strong>Office 2010 Key</strong></a> manage this information. Using the <a href="">Office 2010 Download</a> integrated support for <a href=" Office 2010 Download</a> you no longer have to leave <a href="">Office 2007 Professional</a> to read the latest <a href=""><strong>Office 2007 Key</strong></a> world news, catch up on your <a href="">Download Office 2007</a> favorite sports team, or <a href=" Office 2007 Professional</a> remain up to date on interesting <a href="">Microsoft Office 2007 Download</a>.

  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.6952 0.0000 0.00%
AUD 0.8901 0.0000 0.00%
EUR 0.5907 0.0000 0.00%
GBP 0.5276 0.0000 0.00%
HKD 5.4294 0.0000 0.00%
JPY 78.9230 0.0000 0.00%


Commodity Price Change Time
Gold Index 1278.6 -9.430 2017-10-20T00:
Oil Brent 57.8 0.550 2017-10-20T00:
Oil Nymex 51.9 0.580 2017-10-20T00:
Silver Index 17.0 -0.177 2017-10-20T00:


Symbol Open High Last %
NZX 50 8124.1 8142.3 8124.1 0.07%
NASDAQ 6633.4 6640.0 6605.1 0.36%
DAX 13057.8 13063.6 12990.1 0.01%
DJI 23205.2 23328.8 23163.0 0.71%
FTSE 7523.0 7560.0 7523.0 0.00%
HKSE 28360.0 28519.8 28159.1 1.17%
NI225 21391.0 21489.3 21448.5 0.04%
ASX 5896.1 5924.9 5896.1 0.17%