NZ Post lifts first-half profit 10% on asset sales

Sun, 21 Feb 2016

By Sophie Boot Feb. 22 (BusinessDesk) - New Zealand Post Group lifted first-half profit 10 percent after the state-owned mail service reaped one-off gains from selling assets as it overhauls its operations away from traditional letter delivery. Net profit rose to $110 million in the six months ended Dec. 31, from $100 million a year earlier, the state-owned enterprise said in a statement. Stripping out the gain from asset sales, earnings fell 14 percent to $74 million on an 8.8 percent drop in revenue to $766 million. In November, NZ...

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