National Mail New Zealand Limited today announced an unaudited net deficit of $2.6 million for the six months to 31
March 2000.
Chief Executive, Antony Fowler, said the result, which covers the period ending immediately following the company’s IPO
and listing on the New Zealand Stock Exchange, was slightly better than directors’ expectations.
He said that the company was well positioned with a strong balance sheet, including cash on hand of $12.9 million to
fund future development.
“The six months covered by the interim result represents a very important phase in the growth of National Mail which
leaves us poised to expand our geographic mail coverage as well as to continue development of our E business
initiatives,” Mr Fowler said.
“While revenue streams for the period were somewhat slower to develop than expected, these are now strengthening as
National Mail expands its customer base and consolidates its position as a reliable, cost-efficient and long-term
operation.
“The company has very clearly defined goals and is making good progress on its programme of integrating traditional and
contemporary electronic communications services.”
Mr Fowler said he anticipated that continued growth during the second half of the year combined with ongoing tight
control of costs would see the year end financial result in line with the forecasts in the National Mail Prospectus.
National Mail is a Registered Postal Operator specialising in integrated communications between businesses and their
customers.
ENDS