New Zealand Post recorded a net profit of $17 million for the year ending June 30, 2026, marking its first profit since 2023 amid significant changes to its urban retail store network. This compares with a $2 million loss reported in the previous fiscal year. The company’s total revenue increased 3.6% to $1.26 billion from $1.22 billion in 2025, driven largely by delivery services which accounted for $1.23 billion of the total.
Operating profit climbed to $44 million, up from $17 million the year before, while earnings before interest, tax, depreciation, and amortisation (EBITDA) rose to $157 million from $124 million. Additional revenue sources included $15 million from transport services, $11 million from the sale of collectible stamps and coins, and $9 million from other corporate activities.
NZ Post’s turnaround follows a comprehensive restructuring of its retail operations, including the closure of 142 urban retail partner stores nationwide. After a review process, 10 of those stores were allowed to remain open, resulting in a network of 577 stores countrywide. The restructure came in response to a continued decline in traditional mail volumes, with letter deliveries dropping 15.1% from 158 million in 2025 to 134 million in 2026.
Despite the reduced mail volumes, the company has shifted its strategic focus towards parcel delivery. However, parcels delivered also saw a slight decrease, falling from 87 million in 2025 to 85 million in 2026. To support parcel services, NZ Post invested in expanding and automating its parcel processing network. This included the opening of the Auckland Central Depot in October 2025, which contributed to the handling of 17.1 million parcels over the holiday season, including a record 575,000 parcels processed on a single day after Black Friday.
NZ Post also introduced three new retail hubs in Auckland’s Newmarket and Hardinge Street, and in Christchurch’s Papanui, with plans to open six additional hubs in the 2027 financial year. These hubs feature open-plan layouts designed to consolidate multiple services under one roof.
The company incurred $3 million in restructuring costs related to the network changes, and its salary and wage expenses decreased slightly from $359 million to $355 million. Independent assessments valued NZ Post’s enterprise at $808 million, up $67 million from the previous year, while total shareholder return reached 14.6%.
The financial results coincided with changes to NZ Post’s Deed of Understanding with the New Zealand government, resetting minimum store requirements for the first time in about four decades. The government’s State-Owned Enterprises Minister, Simeon Brown, welcomed the improved financial performance but emphasized the necessity for ongoing disciplined management and operational efficiency. NZ Post returned a $12.5 million dividend to the Crown following a $20 million special dividend paid in 2025.
NZ Post chairwoman Dame Paula Rebstock described the profit as an important milestone in the organisation’s transformation, highlighting the company’s focus on delivering value for customers and fostering long-term sustainable performance.