Australia Post last week announced record group revenue of $8.27 billion for FY21, up 10.3 percent, and a profit before tax of $100.7 million.
The company’s revenue was boosted by continued growth in e-commerce, with strong parcel growth. Parcels & Services revenue grew 17.7 percent to $6.48 billion, on the back of a 27.1 percent increase in Australia Post branded parcels, with StarTrack volumes up 12.1 percent.
AP Global continued to grow the company’s cross-border e-commerce business, with revenue up 90.6 per cent to $429 million. The division with its end-to-end logistics solutions for e-commerce merchants delivered over 40 million parcels.
Australia Post said its profit before tax recorded a $47.1 million increase, despite disruptions to network operations, additional resources to support lockdowns, unprecedented parcel volumes and significantly reduced transport capacity. Letter volumes meanwhilst bucked the uptrend, declining 11.6 percent, resulting to revenue loss of around $202 million.
The business was vigilant in reducing costs , with head office support costs down $16.8 million (1.5 percent) year on year.
Australia Post acting group chief and managing director, Rodney Boys, said the result highlighted the crucial role Australia Post has 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 everyday through the challenges of a pandemic and numerous lockdowns,” Mr Boys said