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Sci Projects Further Growth And Profitability

New Zealand Post Sci Projects Further Growth And Profitability

New Zealand Post’s Statement of Corporate Intent (SCI) projects continued profitability and improved operational performance over the next three years.

The SCI for the period from 1 July 2003 to 30 June 2006 was tabled in Parliament this morning. The SCI is prepared annually in accordance with Section 14 of the State Owned Enterprises Act 1986 and provides information on the company’s strategic direction and financial performance targets.

Chief Executive John Allen said that New Zealand Post expected to improve performance over the three year period. “We are aiming to maintain and improve the performance of our domestic and international mail businesses and to position our retail network for further growth and success.

“Kiwibank is expected to come into profit in 2004/2005, and in time will become a significant contributor to New Zealand Post’s results.

Mr Allen said New Zealand Post was focusing on its purpose as an infrastructure business providing the physical and electronic networks that New Zealanders rely on to send and receive messages, goods and payments. “First, we are improving the efficiency of our networks. Second, we are building on current capabilities and developing new ones to grow the company.

“In doing so we are always mindful of our objectives as an SOE, ensuring that we provide a return for our shareholders, value our people and exhibit a sense of social responsibility.”

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