2013/05/30
Canada Post has published its financial results for the first quarter of 2013.
While the Canada Post segment reported a before-tax profit of $68 million, this was bolstered by the sale of the downtown Vancouver plant in January 2013. Without that sale, the segment would have had a before-tax loss of $41 million in the first quarter.
The volume declines that have challenged us in recent years continued through the first quarter of 2013. Overall volumes were down by more than 136 million pieces – or roughly 930,000 pieces per business day – compared to the same period in 2012. With these continued declines, a substantial financial loss is expected in 2013.
While our growing parcels business increased volumes by about 300,000 pieces in the first quarter, those gains do not offset the losses in Transaction Mail and other aspects of our business.
Please see the quarterly financial report for more information.