SYDNEY, AAP – Australia Post has announced first half revenue of $4.3 billion, up 15.5 per cent year-on-year, and profit before tax of $166.6 million.
The result includes letter losses of just over $74 million.
Capital investment during the period increased to $189.4 million, up $40.3 million on last year, with continued investment to improve business and increase capacity in the parcels network.
Parcels and Services revenue was up almost $700 million, or 25.9 per cent, to $3.4 billion, Australia Post said in a statement on Thursday.
The reporting period represents the strongest in terms of parcel volumes in the organisation’s history with deliveries continuing across the country during COVID-19 restrictions.
Letter volumes were down 13.6 per cent with revenue down 11.0 per cent.
Acting Group Chief Executive Officer and Managing Director Rodney Boys said the overall result was a significant achievement given the uncertainty of the pandemic and necessary changes required to continue to provide essential goods and services.
“The ability of our people to adapt during this intensely challenging period has ensured many businesses across the country have been able to continue to operate and communities have been able to access our services,” Mr Boys said.
He said regulatory changes to delivery services had provided the flexibility to adapt resources and people to where they were most needed, with more than 2000 posties moving to parcel delivery to help manage the growth in eCommerce.
More than 107 million customers visited post offices across the country in the first half, with 23.7 million visits alone in December.
Australia Post will release full year results in September.