NZ Post has reported a NZ$9 million improvement in half-year operating profits driven by revenue growth despite weaker parcels demand combined with cost controls, including about 100 voluntary redundancies.
The government-owned postal operator increased revenue to NZ$642 million in July – December 2024, up from NZ$598 million in the previous period while EBIT rose to NZ$16 million (vs NZ$7 million), its half-year financial report showed.
But the operating profit increase did not translate into growth in net profit after tax, which is NZ$3 million for the 2025 half year compared to NZ$7 million recorded in the same period last financial year. The key drivers of this NZ$4 million reduction were higher financing costs and lease interest costs on property.
Cost focus
