NZ Post first-half earnings saved by KiwiBank, courier services as mail’s slide continues

Sun, 24 Feb 2013

Feb. 25 (BusinessDesk) – New Zealand Post Group, the state-owned postal service, posted a 68 percent jump in first-half profit as stronger earnings from KiwiBank and Express Couriers made up for the continued slide at its core postal service. Profit rose to $59.6 million in the six months ended Dec. 31, from $35.4 million a year earlier, the Wellington-based company said in a statement. Sales rose 30 percent to $872.3 million while operating expenditure gained 26 percent to $793 million. KiwiBank “performed well in a highly competitive marke...

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