NZ Post confident it can complete profit turnaround this year

A small lift in inbound international parcels offset a 3% decrease in domestic parcels. (Image: NZ Post)

Mon, 02 Sep 2024

New Zealand Post made a smaller loss in its last financial year compared with the 12 months before that and confidently predicts it will return to profitability in 2025.In its annual report released on Monday, the state-owned enterprise reported a loss of $14 million for the 2024 financial year (FY24), $42m less than the continuing operations loss of $56m in FY23.Letters delivered decreased by 15%, from 221m to 187m, but total parcel volumes held steady at about 84m.Domestic parcel volumes were down 3% on the previous year, but this dip was off...

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