POST OFFICE SUFFERS LOSS
The struggling Post Office has suffered a year-to-date loss of R1.33bn, against a targeted net loss for the year of R1.15bn, Business Day reported. This follows a R1.5bn loss last year. Total revenue of R4.73bn performed marginally below the prior year’s R4.83bn, it said. CEO Mark Barnes, who was appointed early last year to turn around the business, told parliamentarians on 9 May that the entity was aiming to return to profitability by 2018. He says the Post Office wants to be a leading provider of postal, logistics and financial services and be a key driver of the government’s service delivery objectives, the newspaper said.