PO upbeat in poor economic outlook

Zweli Mokgata

Zweli Mokgata

While parastatals such as the SABC and SAA continue to struggle with inefficiencies and financial losses each year, the South African Post Office expects to see another year of profitability despite the economic crisis.

This is what newly appointed chief operating officer John Wentzel has promised.

The organisation ends its financial year this month, and while it will show a severe decline, there will still be some profit to work with.

In its previous financial results the Post Office recorded a 12percent rise in pre-tax profit of R565million for the year ended in March 2008.

It showed a seven percent rise in revenue to R5,6billion, and while Wentzel expects to see a dip, he expects to keep the organisation above water.

Last year the Post Office rolled out one million new residential addresses and boosted its commercial outlets to 2800 across the country.

This year the target is 100 more post offices along with ongoing innovation and product development.

The crisis has not left the Post Office unaffected, but it does not foresee any loss of jobs, just better management of funds.