2014/11/26
The Canada Post segment reported a profit before tax of $13 million in the third quarter compared to a loss before tax of $129 million in the same quarter of 2013. As they were in the second quarter, the results are mostly 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.
Volumes in Transaction Mail continued to fall in the third quarter after being lower than expected in the second quarter. Compared to the same periods in 2013, volumes decreased by 6.1 per cent in the third quarter and by 5.1 per cent in the first three quarters of 2014.
Implementation of the Five-point Action Plan is well underway. To date, approximately 800,000 households have either been converted from delivery at the door to community mailbox delivery or are in various stages of the conversion process for 2015. In addition, a strong focus on consolidating processing operations is delivering savings.
For the first three quarters of 2014, the Canada Post segment reported a profit before tax of $39 million compared to a loss before tax of $165 million for the same period in 2013 and is expected to report a profit for 2014. The Canada Post Group of Companies reported a profit before tax of $35 million in the third quarter, compared to a loss before tax of $109 million for the third quarter of 2013.
Read the news release for more information.