Kyabram Free Press

Aus Post delivers big profit

- By Darren Linton

Australia Post announced record revenue of $8.27 billion and a profit before tax of $100.7 million for the 2020-21 financial year driven by growth in its parcel delivery business and e-commerce.

Parcels and services revenue grew 17.7 per cent to $6.48 billion, on the back of a 27.1 per cent increase in Australia Postbrande­d parcels, and Startrack volumes growing by 12.1 per cent.

Australia Post acting group chief executive and managing director Rodney Boys said the result highlighte­d the crucial role Australia Post had played during a challengin­g time and was testament to the hard work of its people across the network.

“This strong result rests with the hard work of our people, who have continued to deliver every day through the challenges of a pandemic and numerous lockdowns,” Mr Boys said.

The overall result was tempered by the continued decline in addressed letter volumes — down 11.6 per cent — leading to a fall in letters revenue of $202 million.

“The strength of ecommerce — up 31.8 per cent as Australian­s took to online shopping in record numbers — has supported the result, as did the temporary regulatory changes, which allowed us to meet the significan­t parcel demand and ongoing mail delivery,” Mr Boys said.

Mr Boys said considerab­le uncertaint­y remained as to the impacts of the ongoing pandemic on the next financial year.

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