The South African Post Office made a R135-million profit from trading operations for the financial year ended March 2005 — an improvement of R108-million on last year.
It was the Post Office’s second year of profitability.
Cash generated from operations amounted to R371-million.
Newly appointed CEO Khutso Mampeule said: “Naturally we are excited to announce the groundbreaking financial results, especially because there’s a huge improvement from last year’s financial results.
“This, however, must not make us complacent, because the challenge for the Post Office is to work even harder to sustain this turn around.”
Some of the key achievements include the R750-million increase in share capital and the increase in capital and reserves of R1,8-billion.
Going forward, the key strategic priorities for the Post Office are to achieve operational service excellence and declare war on fraud, corruption and mail violations.
Mampeule said the Post Office wants to broaden the access to postal, financial and other essential link services through an effective network footprint.
“At the Post Office, we are ready to embrace the rapid technological changes that are currently posing huge future challenges.
“This does indeed confirm that we are the leading postal operator on the continent,” concluded Mampeule. — I-Net Bridge