Australia Post revenues grow 7 per cent after pandemic-induced parcel boom
More Australians shopping online during the coronavirus pandemic has been a boon for national postal service Australia Post, which has seen its revenues jump 7 per cent to $7.5 billion over the 2020 financial year.
Chief executive Christine Holgate said e-commerce growth had been a "strong driver" of the result, which has helped the high-profile public servant make goodAustralia Post has seen its revenue jump to record levels thanks to the pandemic.Group profits before tax rose 30 per cent for the year to $53.6 million, a vast improvement on last year's 70 per cent decline.
AusPost implemented a number of measures during the year to attempt to limit its letter losses, including a 10 per cent increase to the basic stamp cost and a temporary regulatory relief that allowed the organisation to deliver letters every other day in metro areas. "We understand the important role our posties and post offices play in serving Australia. Protecting their roles, whilst meeting new community and business expectations, is critical as our business adapts to significant market changes," Ms Holgate said.Alex Ellinghausen
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia Post boss lashed over 'lack of understanding' of Senate scrutinyThe nation's highest-paid civil servant has been lashed by a bipartisan parliamentary committee for attempting to avoid scrutiny over the future of Australia Post's service delivery.
Read more »
Mystery seeds arrive in post at Australian addresses, ringing biosecurity alarm bellsThe arrival of mystery seeds in 'silver foil packaging with white labels' sent from Asia to Australian addresses has biosecurity experts concerned about the potential risk to the environment and farm sector.
Read more »
'Things are green, dams are full': post-bushfire rebuild underway for Sarsfield farmersThe Giles' home and flower farm were razed when a bushfire went through their East Gippsland property last year. Now a new house, and green shoots, are rising from the ashes.
Read more »
'We owe it to the 51 victims': How young Muslims led conversations around racism post-ChristchurchCommunity elders are usually the ones we hear from in a crisis, but following the Christchurch massacre there was a swell of young people taking the reins and speaking out. Now the voices of young NZ Muslims are being heard, and they’re here to stay.
Read more »
KFC suspends ‘It's Finger Lickin’ Good’ slogan amid pandemicThe fast-food restaurant has suspended its popular tagline after 64 years, deeming it “the most inappropriate slogan for 2020' amid the coronavirus pandemic
Read more »