REVENUE UP $40m
Profit for Post Office
(N.Z. Press Association) WELLINGTON, June 30. The Post Office made a profit of $347,999 for . the year ended March 31, 1972, the Postmaster - General (Mr Walker) announced today. The previous year it showed a loss of $13.7m. Increased business and increased charges produced a s4om rise in revenue to $169.8m. Costs increased by s26m to $169.5m mainly because of higher salaries, which cost about $16.2m. Interest paid on borrowed capital amounted to $14.7m. The Post Office spent $35.4m on assets such as telecommunication systems and buildings and more than sl9m was financed from its own resources.
The Post Office Savings Bank had a profit of $760,803. Funds held on behalf of depositors and bond-holders increased by $ 16.3 m to $962.6m.
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Bibliographic details
Press, Volume CXII, Issue 32957, 1 July 1972, Page 2
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127REVENUE UP $40m Press, Volume CXII, Issue 32957, 1 July 1972, Page 2
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