Parcels, logistics help Australia Post bottom line

Australia Post has delivered a 35.7 per cent fall in annual pre-tax profit, but its parcels and logistics business has recorded a 2.5% growth against a backdrop of falling mail volumes.
The corporation said its pre-tax profit for 2008/09 was $380.9 million, down from the record high of $592.2 million in the previous financial year. Its underlying profit fell 14 per cent on revenue that increased by just 0.5 per cent to $5 billion.
The earnings result was impacted by $127.2 million in superannuation costs and changes to bond rates and property valuations.
Australia Post chairman David Mortimer said the corporation’s focus was now its future, planning to spend $700 million on projects over the next three years.
“This was a very tough year for Australia Post, as it was for businesses throughout the world, but our underlying profit shows that we are still in a strong position," he said. "The board has approved funding for a major upgrade of our point-of-sale technology to drive future growth in our financial and agency services and to build our identity services business.
"We have also invested heavily in upgrading our major IT platforms such as mail production and parcel tracking systems while continuing to upgrade our transport fleet."
The volume of items sent through Australia Post dropped for the first time in six years, with 5.3 billion items handled in 2008/09, down from 5.6 billion in the previous year. Letter volumes fell 4.1 per cent on the previous year.
Australia Post’s parcels and logistics business posted annual revenue of $1.3 billion, up 2.5 per cent on the previous year.
Australia Post paid $499.5 million in taxes and government charges during the year, and will pay an ordinary dividend of $184 million to the government and a special dividend of $38.4 million from 2008/09 earnings. Taxes and dividends in 2007/08 totalled $994.3 million.

You may also like to read:

, ,

Comments are closed.


Sign up with your business email address to keep up with the latest industry news from T&L. Newsletter sent every week.

Most Read

Kalmar launches 9-18t lithium battery electric forklifts
Kalmar, part of Cargotec, has introduced a medium electric f...
Technology => efficiency – from MHD magazine
Bart De Muynck Government regulations requiring greater com...
The SMART Distribution Centre opens
Schneider Electric has successfully completed the digital tr...
Australian retail: officially in recession
Phil Chapman “GFC-level terrible.” Those were the wo...
Moving with the times – from MHD magazine
Peter O’Connor Data warehouses are far from new. The term...
Own the future – from MHD magazine
Martin Kohl The distribution centre of the future will need...

Supported By