Postal Updates

Canada Post reports before-tax profit

April 10, 2015 01:29 PM

The Canada Post Group of Companies reported a profit before tax of $269 million in 2014 compared to a loss of $58 million in 2013, according to a March 27 announcement.

The Canada Post Group of Companies comprises the core Canada Post segment and its three non-wholly owned principal subsidiaries, Purolator Holdings Ltd., SCI Group Inc. and Innovapost Inc.

Canada Post segment reported a profit before tax of $194 million in 2014 compared to a loss before tax of $125 million in 2013.

According to the announcements, these results were mainly due to strong growth in the parcels business, lower employee benefit costs and new pricing measures for transaction mail.

Also in 2014, Canada Post’s revenue from domestic parcel business surpassed $1 billion for the first time.

Canada Post said its five-point action plan resulted in progress in realigning the postal service with the increasing need for parcel mail and declining use of paper mail.

More from Linns.com:

North Dakota: the Postal Service's 'perfect storm'

Commission OKs adding new forever stamps

Staff changes at APS Internet sales force restructuring

Stamp Market Tips: Watch for popular Spanish special delivery stamp featuring a locomotive

Stamp phase-out for shippers?

Keep up with all of Linns.com's news and insights by signing up for our free eNewslettersliking us on Facebook, and following us on Twitter. We're also on Instagram!