Continuing strong growth in parcels maintained the Canada Post segment’s position as the country’s No. 1 parcel company in the first quarter.
The growth in Parcels volumes – which were 12.5 per cent higher in the first quarter of 2017 than in the first quarter a year earlier – continues the positive momentum Canada Post achieved by competing to win business and deliver record-breaking parcel volumes in 2016, particularly during the peak holiday season.
The Canada Post segment’s $44-million profit before tax for the first quarter, ended April 1, 2017, is consistent with the $44-million profit before tax in the first quarter of 2016.
Key results for the Canada Post segment in Q1 compared to Q1 2016
- Parcels revenue increased by $45 million or 10.8 per cent.
- Volumes increased by more than six million pieces or 12.5 per cent.
- Revenue decreased by $32 million or 3.8 per cent.
- Volumes decreased by 56 million pieces or 5.9 per cent.
- The decline in mail is one of the significant challenges facing the Corporation, together with its pension obligations, labour costs and the need to invest in its network and customer service.
- Revenue decreased by $10 million or 3.4 per cent.
- Volumes fell by three million pieces or 0.3 per cent.
- However, the largest product category by volume, Neighbourhood MailTM, saw revenue grow by $1 million or 0.4 per cent and volumes grow by 12 million pieces or 1.5 per cent.