2013/08/27
Canada Post lost $104 million before tax for the second quarter, which ended June 29.
The Group of Companies is on track to record a substantial loss in 2013.
In the second quarter, Transaction Mail volumes fell by 6.3 per cent compared to the same period last year.
Over the first two quarters of 2013, total parcel volumes grew by about one million pieces compared to the first half of 2012.
However, with declines in Transaction Mail and Direct Marketing volumes, total volumes fell by 169 million pieces in the first two quarters, compared to the first half of last year.
With mail volumes still falling rapidly, there is an urgent need to restructure the current business model.
For this reason, Canada Post has been consulting with Canadians about the postal services they will need in the future. It expects it will have held more than 50 meetings with community leaders and national organizations by the end of September.
To address its challenges, Canada Post has also been taking steps to improve and maintain service while reducing costs and streamlining operations.
More details about these steps and the financial results are in the news release.