News & Press: Power Retail News

Australia Post Delivers Strong Full Year Profit

Thursday, 31 August 2017  
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Australia Post has advised strong parcels growth is expected to continue, however, the structural decline in letters will put pressure on the profit outlook for FY18. The company saw continued strong growth in its parcels business which allowed for its reinvestment in customer service initiatives.

Parcels profit before tax increased by 4.8 percent to $299.7 million, a strong result given the competitive market. Addressed letter volumes, down 11.8 percent, contributed to a $180 million loss before tax in the postal business. Read more...