NZ Post has had a record-breaking Christmas, with an average of nine parcels delivered every second.
The post and courier business made a net profit of $60 million in the six months ended December, compared with $27m the year earlier, reflecting record parcel volumes and a strong contribution from its stake in Kiwibank owner Kiwi Group Holdings.
File photo. Photo: RNZ / Richard Tindiller
NZ Post chief executive David Walsh said the company had delivered growth, while managing the ongoing decline in the volume of mail.
Earnings from the courier business doubled to $24m.
"Online shopping in New Zealand grew 38 percent for the six months ending 31 December 2021, compared to the same period in 2020, and we are expecting this growth to continue," Walsh said.
"We are well on track with those investments to increase our parcel processing capacity, with new sites and smarter technology," he said, adding the first two new sites, Wellington and Christchurch, would become operational through the middle of 2022.
However, NZ Post had seen a significant decline in mail volumes, with revenue from mail down $7.1m on the year earlier.
"NZ Post is working towards long term financially sustainable solutions for mail, from further price increases, changes to our operations, and associated costs," Walsh said.