P.O. profit assisted
PA Wellington Increased charges were the main reason for the Post Office’s $37.7M profit last year, according to its report tabled in Parliament. In 1977, the Post Office made a profit of $21.2M. The report notes that in the last year, mainly as a result of increased charges, income rose $72.5M to S44OM.
Expenditure, including salary increases, increased SS6M to $402,3M. The report also says that the number of articles posted declined by 11,360,000 over 1976-77. This was a result of increasing competition from the private sector in document movement, and the increase in postal rates and charges from October 1.
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Press, 16 August 1978, Page 10
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104P.O. profit assisted Press, 16 August 1978, Page 10
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