NZ Post increased 1H profit 41%, helped by Kiwibank, sale of courier unit

Sun, 22 Feb 2015

By Tina Morrison Feb. 23 (BusinessDesk) - New Zealand Post, the state-owned mail delivery service, increased first-half profit 41 percent after selling its Australian Couriers Please business for A$95 million and as earnings rose at its Kiwibank unit. Net profit rose to $100 million in the six months ended Dec. 31, from $71 million in the year earlier period, the Wellington-based state-owned enterprise said in a statement. Excluding one-time items, profit rose 18 percent to $84 million, the company said. Revenue increased 2.2 percent to $...

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