2014/08/27
The Canada Post segment reported a profit before tax of $53 million for the second quarter of 2014, primarily due to the impact of lower employee benefit costs, continued growth in the Parcels business and new pricing measures for Transaction Mail contained in the Corporation’s Five-point Action Plan.
Canada Post is encouraged by the result, but Transaction Mail volumes continued their historic decline, falling by 38 million pieces, or 2.3 per cent in the second quarter and by 117 million pieces or 4.7 per cent in the first two quarters of 2014, compared to the same periods in 2013.
Canada Post is focused on executing the various elements of the Five-point Action Plan and has made considerable progress so far this year.
Meanwhile, online shopping continues to drive growth. Parcel revenues for the Canada Post segment rose by 11.3 per cent to $353 million in the second quarter of 2014, compared to the same period in the prior year.
Read the news release for more information.