NZ Post mail service floundering, parcels strong

Fri, 21 Feb 2020

New Zealand Post said its half-year profit more than quadrupled but its mail service is still floundering and puts it in “a difficult position.”The state-owned enterprise reported a net profit of $31 million in the six months to Dec. 31 versus $7 million in the prior year. The lift was due in part to a record-breaking Christmas delivery season for parcels, it said.Revenue was up $20 million at $491 million compared to the prior period and an average 218,000 parcels were delivered a day for six-month period.Chief executive David Walsh noted that...

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